Pratim Ranjan Bose

Kolkata , Jan. 23

ONGC is expecting its G-1 and GS-15 deepwater field in the Krishna-Godavari basin to start production by June. The initial production will be one million standard cubic metre per day (mmscmd) of natural gas to be enhanced to two mmscmd in 2007.

The peak gain from the two fields is expected to be around 9,400 barrels of oil per day (bpd) and a gas production of 2.7 mmscmd.

G-1 and GS-15 are the country's first deepwater development projects using remotely monitored `smart well' concept. The total cost is estimated to be Rs 1,263 crore.

"The development projects in both the fields are running more or less on schedule and is delayed by a mere 15 days so far. We are extremely hopeful that gas will start flowing by June 2007," a senior company official told Business Line.