ONGC successfully commences 'First Oil' production from KG-DWN-98/2 Deepwater block in Krishna Godavari

ONGC announces the successful commencement of "First Oil" production from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal.

With commencement of this First Oil from 'M - field' on 7th January 2024, ONGC is completing Phase 2.

The flagship project is on track with final phase of project planned to be completed by June 2024 and then onwards commencement of gradual ramping up to reach planned peak production of 45,000 barrels of oil per day (bopd) and 10 MMSCMD of gas from the deep-water KG-DWN-98/2 Block.

Shares of Oil & Natural Gas Corporation Limited was last trading in BSE at Rs. 216.40 as compared to the previous close of Rs. 214.60. The total number of shares traded during the day was 706839 in over 7445 trades.

The stock hit an intraday high of Rs. 217.50 and intraday low of 213.10. The net turnover during the day was Rs. 152405498.00.

Source : Equity Bulls

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OilandNaturalGasCorporation INE213A01029 ONGC FirstOilProduction KGbasin