KG Basin Oil & Gas output low

KG Basin Oil & Gas Output RIL-GSPC-ONGC .3% & 1% Consumption

May08, 2019 (C) Ravinder Singhravindersinvent@gmail.com

License to Explore & Develop KG Basin were granted in 1999 to RIL & GSPC and ONGC was already operating in the area. RIL in 2002 announced World’s Biggest Discovery of the Year Promising Supply of Natural Gas for 100 Years, Development of Production Wells Started in 2006 and started Natural Gas production in 2009.

http://petroleum.nic.in/sites/default/files/MPRmar2019.pdf –http://petroleum.nic.in/sites/default/files/P_Mar_14.pdf

As latest Stats Offshore Gas production has declined from peak of around 13,699 MSCM in 2012-13 to 1,114 MSCM in 2018-19 and this is not even 1% of India Consumption.

Similarly Crude Oil production in East Coast which is mainly KG Basin is just 0.635 million tones which is not even 0.3% of India’s 210 million tones Net Crude Oil Consumption.

Private Sector in 20 Years in FY2018-19 produced 9.868 million tones of Crude Oil but in this CAIRNcontribution was 7.663 million tones in Barmer region in Rajasthan. CAIRNS was taken over by

Private Sector in 20 years in FY2018-19 produced 5.476 MSCM of Natural Gas which was 14.490 MSCM in 2012-13.

https://en.wikipedia.org/wiki/Cairn_India

‘Cairn India’ made scores of Discoveries and Production Started in most discoveries, was taken over by VEDANTA for $8.67b.

‘Vedanta Resources PLC initially reached an agreement to acquired 58.8% of Cairn India from Cairn Energy for a total consideration of $8.67 billion in August 2010, with final shareholder approval in December.’

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