Reliance Industries and BP reported a nearly seven per cent year-on-year decline in KG-D6 natural gas production during the June quarter due to natural reservoir depletion. The companies said plans are in place to offset declining output from the deepwater Bay of Bengal block
ONGC expects its natural gas production to grow by 7-8 per cent annually as new wells come on stream. Chairman Arun Kumar Singh said rising output from new wells, offshore investments and supportive government policies are expected to strengthen the company's growth prospects
Natural gas production in 2019-20 was 85 mmscmd, which is estimated to have fallen to 80 mmscmd in the following year, HDFC Securities said in a report.
