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First crude oil offtake from new FPSO represents ‘historic achievement in India’s energy sector
India’s government-owned energy giant Oil & Natural Gas Corporation (ONGC) has held a flag-off ceremony for the first crude oil offtake from a floating production, storage, and offloading (FPSO) vessel, which is working at what is said to be the first deepwater development located off India’s east coast.
Following the FPSO Armada Sterling V’s first oil at the Block KG-DWN 98/2 development project on the east coast of Kakinada offshore India, Shri Narendra Modi, India’s Prime Minister, flagged off the first crude oil tanker Swarna Sindhu from ONGC’s Krishna Godavarideepwater block. This project is anticipated to add 7% to India’s oil and gas production at its peak production level.
The flag-off ceremony, organized in Begusarai in Bihar, was graced by Bihar Governor, Shri Rajendra Vishwanath Arlekar; Bihar Chief Minister, Shri Nitish Kumar and Shri Giriraj Singh, Minister of Rural Development and Panchayati Raj Department and MP, Begusarai Loksabhaconstituency along with Shri Hardeep Singh Puri, India’s Minister for Petroleum & Natural Gas and Housing & Urban Affairs, along with senior dignitaries from Petroleum Ministry, Shri Arun Kumar Singh, Chairman and CEO of ONGC and the firm’s directors.
Developed with an investment of over 410 billion rupees (around $4.95 million), ONGC claims that the KG-DWN 98/2 deepwater oil field M in Krishna Godavari Basin is one of the most technologically complex projects. The total anticipated daily peak gas and oil production from the project is about 10 million standard cubic meters per fuel or 45,000 bopd.
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