The Oil and Natural Gas Corporation (ONGC) will begin the production of gas from its lone field with proven reserves of variety of hydrocarbon in the Krishna Godavari basin off the east coast in December 2019.

The company expects to reach the peak production level in 2022. The initial production from the field KG-DWN-98/2 will be four-five mscmd with peak rate being 17 mscmd.

Reliance Industries’ D1 and D3 fields in the KG Basin currently produce around four mscmd and production is likely to cease by end of 2019. At its peak, the field’s output had hit 61.4 mscmd.

ONGC is pumping in Rs 57,000 crore in the KG-DWN-98/2 project in the Bay of Bengal apart from developing other discoveries on and off the west coast. Oil production from the field is expected is start from the second half of 2020. ONGC plans to produce 42 bcm of gas by end of 2021-22 given KG basin discoveries will come onstream.