MUMBAI, March 20: The Mumbai region of the Oil and Natural Gas Corporation (ONGC) has achieved the production targets of oil, gas, condensate, liquefied-natural gas (LPG) and natural-gas liquid (NGL) ahead of schedule, ranging from nearly three months to 12 days for different products.The most important product, crude-oil production, was achieved on March 18 by producing 17 million tonnes, which is the revised estimate. The memorandum of understanding (MoU) target of 16.16 million tonnes was achieved on February 28, a month ahead of schedule.
As per an Oil & Natural Gas Corporation release issued here on Friday, at this production rate, by the end of this fiscal, the Mumbai region will be producing 17.63 million tonnes of crude oil against a target of 17 million tonnes, thereby achieving 103.7 per cent of the target.
Gas sales during this fiscal will be 14,600 million cubic metres (MMSCM) against a target of 13,800 MMSCM, thereby achieving 105.8 per cent of the target. The production of condensate willbe 2.20 million tonnes against a target of two million tonnes, achieving 110 per cent of the target.
The release adds that LPG production by March 31 this year would be 1.07 million tonnes against a target of one million tonnes, thereby improving production to 107 per cent. The region will be producing 1.7 million tonnes of NGL against a target of 1.35 million tonnes, thereby achieving 125.9 per cent of the target.
According to the release, the targets were upwardly revised as compared to the MoU ones, and the region has overshot them. If production figures are compared to the Memorandum of Understanding target, the percentage will be even more, the release adds.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
