ONGC has told oil regulator DGH that its KG basin block may hold about 3 trillion cubic feet of gas reserves from which it plans to produce 25-30 million unit a day by 2016.
ONGC last week submitted a proposal for declaring nine gas discoveries in the northern area of block KG-DWN-98/2 commercially viable, sources said. Once the Directorate General of Hydrocarbons (DGH) approves the viability of the finds, ONGC will make a field development plan outlining the specifics of producing gas. ONGC has put investment for bringing production to Padmawati, Kanakadurga, Annapurna, N-1, D/KT, U, A, W and E gas finds in the Northern Discovery Area (NDA) of the block.