Crude Oil Output Exceeds Monthly Target In April

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    The Ministry of Petroleum and Natural Gas announced that the Crude oil production during April 2018 was at 2915.00 TMT which is 1.44% higher than the monthly target.

    Crude Oil Output Exceeds Monthly Target In April

    The rise in the crude oil prices in the international market has led to the surge in the prices of petrol and diesel in India.

    India mainly depends on 80% of the oil imports to meet its requirements. In the present scenario, it is better to use the domestic resources to meet the needs of the country instead of depending on the imports.

    The crude oil production by ONGC during April 2018, stood at 1777.33 TMT, up by 1.36% compared to the monthly target. But it was down by 3.78% as against April 2017 target.

    Crude oil production by OIL stood at 274.33 TMT, up by 1.65% as against the monthly target.

    The reason behind the decline in the oil production is mainly due to rise in water cut in wells and decline in total liquids production of wells of Greater Hapjan and Greater Chandmari Fields. Less than the planned contribution from work over wells.

    Crude oil production by Pvt/JVs during April 2018 was 863.33 TMT which is 2.64% higher than the monthly target and 5.48% higher than April 2017. The shortfall in production was mainly due to the closure of 2 wells in D1D3 and 1 well in MA field KG-DWN-98/3 and well B6 ceased to flow on 30/4/2018 due to low reservoir pressure.

    Crude Oil Production (in TMT)

    Oil Company Target* April (Month) April (Month)     
      2018-19 (Apr-Mar) 2018-19 2018-2019 2017-18 % over last year
        Target* Prod.* Prod.  
    ONGC 22601.83 1753.49 1777.33 1847.12 96.22
    OIL 3645 278.93 274.33 273.68 100.24
    PSC Fields 10233.6 841.14 863.33 818.51 105.48
    Total 36480.43 2873.57 2915 2939.31 99.17

    Natural gas production during April 2018 stands at 2662.97 MMSCM which is 0.95% higher than the target for the month and 5.10% higher when compared with April 2017's production.

    Natural gas production by ONGC during April 2018 was 1972.04 MMSCM which is 4.93% higher than the monthly target and 10.11% higher when compared with April 2017.
    Natural gas production by OIL during April 2018 was 221.42 MMSCM which is 6.81% lower than the monthly target and 8.23% lower than April 2017.

    The shortfall in gas production is primarily due to the temporary suspension of supply to NEEPCO for about 8 days due to pigging and cleaning of their delivery line by the transporter M/s. AGCL. Upliftment of gas by M/s. BVFCL also suffered due to unscheduled maintenance work at their Namrup-II & III plants.

    Natural gas production by Pvt/JVs during April, 2018 was 469.51 MMSCM which is 9.85% lower than the monthly target and 6.36% lower when compared with April, 2017.

    Natural Gas Production (MMSCM)

    Oil Company Target* April (Month) April (Month)     
      2018-19 (Apr-Mar) 2018-19 2017-18 2017-18 % over last year
        Target* Prod.* Prod.  
    ONGC 24111.63 1879.42 1972.04 1790.98 110.11
    OIL 2940 237.59 221.42 241.28 91.77
    PSC Fields 6497.61 520.81 469.51 501.39 93.64
    Total 33549.24 2637.83 2662.97 2533.64 105.1

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