According to UK-based engineering and project management services provider CONSUB, the deepwater project in Indian waters deploying a floating production, storage, and offloading (FPSO) unit, carried out by India’s government-owned energy giant Oil & Natural Gas Corporation (ONGC), is approaching its final development stage.
As disclosed by CONSUB, which was in charge of providing project management consultancy, the development of Block KG-DWN-98/2 is over 90% complete. The project, which includes 23 subsea wells producing via the FPSO Armada Sterling V and a fixed platform, is described as complex and deemed significant for the UK firm and India, contributing to its energy independence.
Frank Nunan , Managing Director of CONSUB, said: “Looking forward to the rest of 2024 and beyond, CONSUB continues to grow our support to clients in India and around the world in achieving their specific energy goals. Our team’s practical experience in engineering and project management, allied to our agile management systems, delivers great support for clients in the oil and gas, renewables, and decommissioning sectors.”
The UK player says ONGC approached it in 2018 to provide project management consultancy for its deepwater oil and gas project. While India was a new market, the engineering services provider decided to use its project management experience in the oil and gas industry and accept the challenge.
The project hit a milestone when the first gas at U field was achieved in 2020. Four years later, in January 2024, the first oil was produced from the M field , followed by the first crude oil offtake in March. There are now four wells in production.
According to the Indian energy giant’s January estimates, the project could increase its total oil production by 11% and gas production by 15%, with expected peak production of over 45,000 barrels of oil per day (bopd) and 10 mmscmd of gas.