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Production Data - I: Are crude and gas output targets set too high?
Feb 23: In an attempt to push indigenous production, is the government setting too high a target? The inability to achieve oil and gas production targets must be seen in the context of the fact that while output is higher than for the month in the previous year, is is way lower than target.
Crude oil production during January, 2017 was 3.075 MMT is 5.57% lower than target but 1.28% higher when compared with January 2016.
8Production by ONGC during January, 2017 was 1.916 MMT is 5.07% lower than the monthly target but 4.63% higher when compared with January, 2016.
8Reasons for shortfall in production are as under:
-- Delay in deployment of MOPU-Sagar Samrat.
-- Delay in implementation of “Development of Western Periphery of MHS (ZC)” Project.
-- Natural decline & increase in water cut in matured fields of Western Offshore.
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