Fresh Oil Discovery In Krishna-Godavari Basin

Utkarsh Classes Last Updated 13-01-2024

Fresh Oil Discovery In Krishna-Godavari Basin

Place in News 4 min read

State-owned oil corporation ONGC(Oil and Natural Gas Corporation) has started the production of "first oil" from the country's first crude find, Krishna Godavari Deep-Water Block 98/2.

The oil is being extracted from the Krishna Godavari basin, which is located thirty kilometetres off the coast of Kakinada in the Bay of Bengal.
India, the third-largest oil consumer and importer in the world, sources crude oil from various global markets to cater to its domestic needs.

About Discovery

ONGC has announced the commencement of the 'First Oil flow to FPSO' from the Krishna Godavari Deep-Water Block 98/2, located in the Bay of Bengal, on January 7th, 2024.
This marks the nearing completion of Phase 2 of the project. Phase 3, which is already underway, is expected to be completed by June 2024 and will lead to peak Oil and Gas production.
The 98/2 project is expected to increase ONGC's total Oil and Gas production by 11 percent and 15 percent respectively.

Crude Oil Production

Crude oil production is the amount of oil extracted from the ground after removing impurities. This includes crude oil, natural gas liquids (NGLs) and additives.
Crude oil is a mineral oil made up of natural hydrocarbons. It is yellow to black, and its density and viscosity vary.
NGLs are liquid or liquefied hydrocarbons produced during the purification and stabilization of natural gas.
Additives are non-hydrocarbon substances added to a product to modify its properties, such as improving its combustion characteristics, for example, MTBE and tetraethyl lead.
Refinery production refers to the secondary oil products made in an oil refinery.

About ONGC

Maharatna ONGC is the biggest Indian company that produces crude oil and natural gas. It contributes approximately 71% to the Indian domestic production.
Downstream companies such as IOC, BPCL, HPCL, and MRPL (last two of which are subsidiaries of ONGC) use crude oil as a raw material to manufacture petroleum products such as petrol, diesel, kerosene, naphtha and cooking gas LPG.

Oil Fields In India
Field Name	State
Digboi	Assam
Naharkatiya	Assam
Ankleshwar	Gujrat
Cambay-Luni	Gujarat
Kalol, Sanand	Gujarat
Mangla, Sarswati, Bhagyam	Rajasthan
Bombay High	Maharashtra
Ravva	Andhra Pradesh