India’s crude oil production falls 2% in October

The cumulative crude oil production during April-October, 2015 stood at 21,831.94 TMT, which is 1.49% higher than 21,819 TMT reported in the corresponding period last year.

India’s indigenous crude oil production (including condensate) during October, 2015 declined by 2.08% to 3,151 TMT as against 3,218 TMT reported in the same period a year ago, according to the latest data released by Ministry of Petroleum and Natural Gas.

However, the country’s crude oil production in October is 2.53% higher than the target of 3,073 TMT.

The cumulative crude oil production during April-October, 2015 stood at 21,831.94 TMT, which is 1.49% higher than 21,819 TMT reported in the corresponding period last year.

The state-run The cumulative crude oil production during April-October, 2015 stood at 21,831.94 TMT, which is 1.49% higher than 21,819 TMT reported in the corresponding period last year.  produced 1,909.35 TMT of crude oil as against 1,093 TMT produced in the same period a year ago, reflecting a growth of 0.32%. Besides, the company’s cumulative production during April-October, 2015 stood at 13,150.78 TMT which is 1.42% higher than the production of 12,967 TMT during the corresponding period of last year.

Lower production due to poor influx, ceasure of wells, increase in water cut and power shut down in Ahmedabad; less air injection in Santhal fields, increased number of sick wells in Mehsana and low gas injection pressure, power shutdown and poor influx in Assam are the key reasons for the shortfall in ONGC’s production in Ocrober 2015.

Oil India Ltd (OIL)’s crude oil production during October 2015 stood at 265.94 TMT, which is 10.50% lower than the production of 294 TMT achieved in the corresponding month of last year. OIL’s cumulative production during April-October, 2015 was 1,915.61 TMT which is 4.46% lower than the production of 2,005 TMT during the corresponding period of last year.

Due to rise in water cut in wells of Greater Chandmari and Greater Hapjan Fields; less than planned contribution from workover wells and permanent loss at Makum & Hapjan OCS after re-opening of wells post OIL blockade by “Sadou Moran Chatra Santha” the company faced shortfall in crude oil production for the month of October 2015.

The private players and joint ventures (JVs) prdocued 975.87 TMT of curde oil, which is 4.10% lower than production of 1,018 TMT in the corresponding month of last year.

Cairn India faced natural decline in Ravva and underperformance of Bhagyam wells in Rajasthan, while Reliance Industries Ltd witnessed under performance of wells in KG-D6