Oil production in ONGC’s onshore fields rises
Oil production at ageing onshore fields of Oil and Natural Gas Corporation has marginally climbed in the first half of 2016¬-17, reversing a four-year declining trend that has mainly contributed to falling output at India’s largest oil and gas producer for years. Onshore oil production rose 2 per cent to 2.95 million metric tonne (MMT) in the six months to September, according to Ved Prakash Mahawar, director ¬onshore. In the first half of 2015-¬16, the decline was 6.5 per cent while the average annual decline in the first half of the preceding four years was about 6 per cent. The last time ONGC’s onshore production expanded in the first half of the fiscal year was in 2011-¬12 when it grew 1.7 per cent to 3.75 MMT.
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