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India fails to achieve oil & gas targets in 2017-18: Gas output falters but this year it is meant to get better
Apr 20:
On the gas front, the performance of the duo has been worse
8ONGC produced 2013.61 MMSCM of gas in March, which is 8.7% lower than the monthly target while in all of 2017-18, output was at 23429.47 MMSCM , 3.22% lower than the target
8OIL's production at 2881.50 MMSCM for 2017-18 was was 4% below target
8Private and JV output was at 6338.34 MMSCM during the year, a massive 20.03% below target
8At a time when the government has ambitious targets of plugging import dependency, this performance is abysmal by every yardstick
8ONGC's failure to get the B-127 cluster going and its inability to get more punch out of the WO16 cluster is a self-made failure. To accord sanction to an inexperienced contractor to convert the Sagar Samrat to an MOPU and the subsequent inability to coax the contractor to get the system operational, in fact, requires a full a full fledged investigation on its own
8Technical downhole problems with OIL's producing wells and snags with faulty compressors procured from BCPL were to be blamed for OIL's lack of performance
8RIL's D-6 wells have been underperforming for a long time. One well went of production for nearly a month on low reservoir pressure. All of this added up to create the big shortfall in overall output from the private and JV segment.
8ONGC claims 2018-19 will be a different year, as output is going to come in from all directions, including from the East Coast as well as from the long delayed Daman field. Let's wait and see.
Click on Reports for more
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8ONGC produced 2013.61 MMSCM of gas in March, which is 8.7% lower than the monthly target while in all of 2017-18, output was at 23429.47 MMSCM , 3.22% lower than the target
8OIL's production at 2881.50 MMSCM for 2017-18 was was 4% below target
8Private and JV output was at 6338.34 MMSCM during the year, a massive 20.03% below target
8At a time when the government has ambitious targets of plugging import dependency, this performance is abysmal by every yardstick
8ONGC's failure to get the B-127 cluster going and its inability to get more punch out of the WO16 cluster is a self-made failure. To accord sanction to an inexperienced contractor to convert the Sagar Samrat to an MOPU and the subsequent inability to coax the contractor to get the system operational, in fact, requires a full a full fledged investigation on its own
8Technical downhole problems with OIL's producing wells and snags with faulty compressors procured from BCPL were to be blamed for OIL's lack of performance
8RIL's D-6 wells have been underperforming for a long time. One well went of production for nearly a month on low reservoir pressure. All of this added up to create the big shortfall in overall output from the private and JV segment.
8ONGC claims 2018-19 will be a different year, as output is going to come in from all directions, including from the East Coast as well as from the long delayed Daman field. Let's wait and see.
Click on Reports for more
