23-03-2017

India: Crude oil production fell 3.4% in February

crudeo

Crude oil production fell 3.4 per cent in February 2017 as compared to the corresponding period last year. According to the Ministry of Petroleum and Natural Gas, crude oil production stood at 27.97 million tonnes in February. Natural gas production fell by 1.66 per cent compared to the corresponding period last year. Natural gas production stood at 2522.54 MMSCM in February. Refinery production in February 2017 was 190.50 mt, which was 2.33 per cent lower as compared to that in February 2016.

Crude oil production by ONGC was 2.17 per cent lower as compared to February 2016. ONGC’s crude oil production in February 2017 stood at 17.41 mt. The reasons for shortfall in production were delays in deployment of MOPU-Sagar Samrat, implementation of Development of Western Periphery of MHS (ZC) Project, and a natural decline in matured fields of the Western Offshore. The onus of lower production by ONGC as also the shutdown of GEB Power in Ahmedabad and Mehsana, ceasure of wells in the North Kadi & Laghnaj fields and closure of high water cut wells and the power shutdown of ASEB in Assam.

Crude production by OIL during February 2017 was 260.32 tmt, which was 5.73 per cent higher than production in February 2016. A shortfall in production was mainly due to the lower-than-planned contribution from high producing areas such as the Greater Hapjan, Shalmari and Moran fields, primarily on account of a rise in water cut.

Crude oil production by private/ joint ventures during February 2017 was 7.95 mt. This was 8.52 per cent lower than in February 2016. The lower production from Mangala due to one power fluid pump tripping on February 21, closure of a few high water cut wells at Mangala and poor reservoir performance of Bhagyam. The underperformance of KG- OSN-2001/3 and a natural decline in CB-OS/2 and Panna-Mukta are also cited as reasons for lower crude oil production.

Natural gas production by ONGC during February 2017 was 1773.12 MMSCM, which is 2.44 per cent higher when compared with February 2016. Shortfall in production was due mainly to lower-than-planned production from the Daman & C-26 cluster due to evacuation constraints (export lines to TCPP platform are not completed) and a natural decline from the Bassein field.

Natural gas production by OIL during February 2017 was 225.18 MMSCM, which is 3.07 per cent higher than in February 2016. Natural gas production by private/ joint ventures during February 2017 was 524.24 MMSCM, which is 14.85 per cent lower when compared with February 2016.

The underperformance of wells in KG-OSN-2001/3, Sohagpur West CBM block, closure of a few wells for maintenance in Raniganj East CBM block, lower production from Mangala as one power fluid pump tripping on February 21, closure of 2 wells in D1D3 field in KG-DWN-98/3 and poor reservoir performance of Bhagyam are cited as reasons for the shortfall in production.

Source: The Hindu BusinessLine

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