New Delhi: In a significant stride towards energy self-sufficiency, India has initiated its first oil production from the challenging deepwater KG-DWN-98/2 Block in the Krishna Godavari basin. The project, located off the coast of the Bay of Bengal, is poised to make a substantial contribution to India’s energy landscape, reinforcing the nation’s commitment to an Aatmanirbhar Bharat (self-reliant India).
Under the dynamic leadership of Prime Minister Narendra Modi, India has emerged as the fastest-growing economy, and this latest development further underscores the country’s prowess in energy production. The project, situated in the deep and intricate Krishna Godavari basin, is expected to yield a daily production of 45,000 barrels of oil and over 10 million cubic meters of gas. These significant outputs are anticipated to fortify India’s energy independence and contribute to the national goal of Aatmanirbhar Bharat.
Prime Minister Narendra Modi lauded the commencement of the first oil production from thecKG-DWN-98/2 Block, emphasizing its strategic importance in India’s energy journey. The Prime Minister expressed his enthusiasm, stating, “This is a remarkable step in India’s energy journey and boosts our mission for an Aatmanirbhar Bharat. It will have several benefits for our economy as well.”
The project is estimated to augment the current national oil production by 7% and contribute a similar percentage to the national natural gas production. This achievement aligns with India’s vision of enhancing energy security, reducing dependence on imports, and fostering economic growth. As the nation propels forward, such milestones mark pivotal moments in India’s quest for energy sustainability and economic resilience.