Domestic natural gas production is expected to rise by 22.67% during the next financial year to 47.17 BCM. According to the Budget Estimate of the current year, gas production is expected to be 38.45 BCM at the end of the current fiscal. For the years 2015-16 and 2016-17, the production figures have been projected to reach 50.82 BCM and 63.88 BCM, respectively.
Domestic crude oil production, on the other hand, is expected to rise less sharply during the next fiscal. Domestic crude oil production is expected to touch 44.76 MMT during the next financial year, that is, 13.6% jump from the current year’s budget estimate. In fact, crude oil production is expected to peak during the next year and thereafter it is expected to slide downwards. Crude oil production is projected to go down to 42.55 MMT in 2015-16 and further to 41.16 MMT in 2016-17.
During the first six months of the current fiscal, actual gas production was about 97.4 MMSCMD, with 63.3 MMSCMD contribution from ONGC, 7.2 MMSMD from OIL and 26.9 MMSCMD from private and JV companies. The actual crude oil production in the year 2013-14 up to September 2013 was estimated at 18.838 MMT.
