ONGC Kakinada to augment production
Eastern Offshore Asset a business unit of ONGC located at Kakinada is all set to enhance its production by an additional 5 million cubic meters of gas per day by February ’18.
Stating this was ONGC’s Executive director and asset Manager Mr Alok Nandan who was recently in the port city to address a customer’s meet.
He further stated that ONGC expects to add 15 million cubic meters of gas per day from mid-2019 onwards which, being from deep-water fields, will also entail pricing and market freedom for ONGC.
The gas from these fields will be competitively priced with lowest of landed price compared to alternative fuels like LNG, Imported Naphtha, Imported Coal and Imported Fuel Oil said Mr Nandan.
In order to understand the needs of the prospective customers and to assess the demand and market conditions for gas which would be made available a Customers Meet had been organised in Vizag. Though ONGC will be allocating the gas based on an open bidding system at later date, the Meet proved to be an apt platform for discussing various issues including constraints relating to gas usage, availability, transportation, pricing methodologies and benchmarking.
Along with Nandan ONGC’s Chief Marketing officer Mr. R Guhan was also present to discuss issues relating to gas availability, transportation and Govt policies related to pricing and marketing freedom for deep-water gas. Mr. Koya Praveen IPS, MD APGIC represented Govt of Andhra Pradesh along with other AP Govt officials.
Senior executives from various public and private sector organisations attended this important meet.
For more information: Mr. R. Guhan, CGM-Chief Marketing, Ph: 011-26751315