In its pursuance of deeper and older plays this discovery augurs well as it marks the company's determined efforts to put the KG Offshore to new and higher levels of oil production.
ONGC plans a fast track hub development programme clustering geographically proximal encouraging finds including a mix of older finds like G-2 & GS-29 with latter finds like Padmawati, Kanakadurga and a slew of other discoveries using common production facility like an FPSO is fast nearing reality. This is expected to be on course with an initial rate of 20,000 bbl/d by 2012-13 which is expected to peak to around 150,000 bbl/d by 2016-17.
The company made this announcement during the trading hours today, 25 November 2008.
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