{"id":231,"date":"2024-01-09T13:25:55","date_gmt":"2024-01-09T13:25:55","guid":{"rendered":"https:\/\/demo.candidthemes.com\/refined-magazine\/?p=231"},"modified":"2024-01-09T13:42:07","modified_gmt":"2024-01-09T13:42:07","slug":"ongc-begins-oil-extraction-from-deep-water-block-in-krishna-godavari-basin","status":"publish","type":"post","link":"https:\/\/tradeonsetup.datanine.in\/news\/ongc-begins-oil-extraction-from-deep-water-block-in-krishna-godavari-basin\/","title":{"rendered":"ONGC Begins Oil Extraction from Deep-Water Block in Krishna-Godavari Basin"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"231\" class=\"elementor elementor-231\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4e4b92c e-flex e-con-boxed e-con e-parent\" data-id=\"4e4b92c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-60cf5fe elementor-widget elementor-widget-text-editor\" data-id=\"60cf5fe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The Krishna Godavari Basin, located off the eastern coast of India in the Bay of Bengal, is a prolific oil and gas-producing region. Oil extraction in the basin is a complex and crucial undertaking for India&#8217;s energy security. Here&#8217;s a closer look:<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d93ca74 e-flex e-con-boxed e-con e-parent\" data-id=\"d93ca74\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-eb1409f elementor-widget elementor-widget-heading\" data-id=\"eb1409f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Recent Developments:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ce5c61d e-flex e-con-boxed e-con e-parent\" data-id=\"ce5c61d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ad65c9d elementor-widget elementor-widget-text-editor\" data-id=\"ad65c9d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">First Oil Flow: On January 7, 2024, the Oil and Natural Gas Corporation (ONGC) commenced &#8220;first oil flow&#8221; from the KG-DWN 98\/2 block in the basin. This marked a significant milestone, potentially contributing up to 7% of India&#8217;s total oil and gas production at peak capacity.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Production Targets: The project is expected to reach peak production of 45,000 barrels of oil per day and over 10 million cubic meters of gas per day by May-June 2024. This will significantly reduce India&#8217;s reliance on oil imports.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-73e1eea e-flex e-con-boxed e-con e-parent\" data-id=\"73e1eea\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d73e788 elementor-widget elementor-widget-heading\" data-id=\"d73e788\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Challenges and Concerns:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b494dd0 e-flex e-con-boxed e-con e-parent\" data-id=\"b494dd0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cc91e78 elementor-widget elementor-widget-text-editor\" data-id=\"cc91e78\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Environmental Impact: Oil extraction activities can have negative environmental consequences, including water pollution, air pollution, and disruption of marine ecosystems. Mitigation measures and responsible practices are essential to minimize these impacts.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Safety Risks: Deep-sea oil extraction involves inherent risks, such as equipment failure, leaks, and explosions. Stringent safety protocols and emergency response plans are crucial to ensuring the safety of workers and the environment.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Local Community Concerns: Oil and gas projects can raise concerns among local communities regarding potential displacement, environmental damage, and unfair distribution of benefits. Addressing these concerns through transparent communication and community engagement is vital.<\/span><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bb21ad5 e-flex e-con-boxed e-con e-parent\" data-id=\"bb21ad5\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-893b0b5 elementor-widget elementor-widget-heading\" data-id=\"893b0b5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Overall Significance:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cd38d7b e-flex e-con-boxed e-con e-parent\" data-id=\"cd38d7b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bbcae40 elementor-widget elementor-widget-text-editor\" data-id=\"bbcae40\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The Krishna Godavari Basin oil extraction project represents a significant step towards energy independence for India. It can also generate employment opportunities, boost economic growth, and contribute to the development of the region. However, it&#8217;s crucial to balance these benefits with environmental protection and safety measures.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Krishna Godavari Basin, located off the eastern coast of India in the Bay of Bengal, is a prolific oil and gas-producing region. Oil extraction<\/p>\n","protected":false},"author":1,"featured_media":393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"audio","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[21,6],"tags":[],"class_list":["post-231","post","type-post","status-publish","format-audio","has-post-thumbnail","hentry","category-breaking-news","category-economic-news","post_format-post-format-audio"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ONGC Begins Oil Extraction from Deep-Water Block in Krishna-Godavari Basin - Share Market News | Intraday Trading Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradeonsetup.datanine.in\/news\/ongc-begins-oil-extraction-from-deep-water-block-in-krishna-godavari-basin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ONGC Begins Oil Extraction from Deep-Water Block in Krishna-Godavari Basin - Share Market News | Intraday Trading Analysis\" \/>\n<meta property=\"og:description\" content=\"The Krishna Godavari Basin, located off the eastern coast of India in the Bay of Bengal, is a prolific oil and gas-producing region. 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