The company intends to produce about 25-30 million standard cubic metres per day of gas by the next five years.
ONGC has sought approval for the plan from the directorate general of hydrocarbons and the petroleum ministry to drill another eight wells in the KGDWN-98/2 Block to maximize the output from the deep-sea field in the Bay of Bengal.
The company had submitted a proposal for declaration of commerciality, that the block is estimated to have gas reserves of 3.4 trillion cubic feet, of which 1.9 Tcf are recoverable reserves.
Recently ONGC has negotiated with BG Group and Eni to sell up to a 30% stake in the KG-DWN-98/2 Block, reports upstreamonline.com.