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.
ONGC intends to start natural gas sale from its KG-DWN-98/2 block, which sits next to Reliance Industries Ltd (RIL)-BP Plc operated KG-D6 fields, from June-end.
All of refining, marketing and petrochemical assets will be transferred to the O2C subsidiary, it said in regulatory filings at stock exchanges late on Monday.