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Fresh Oil Discovery In Krishna-Godavari Basin

Utkarsh Classes 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

FAQ

Answer: ONGC

Answer: Maharatna

Answer: Assam

Answer: Mangla, Sarswati, Bhagyam

Answer: 30 kilometers off the coast of Kakinada in the Bay of Bengal.
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