Ratna and R-Series is a producing conventional oil field located in shallow water in India and is operated by Oil and Natural Gas. The field is located in block Ratna & R-Series, with water depth of 984 feet.
Field participation details
The field is owned by Oil and Natural Gas.
Production from Ratna and R-Series
The Ratna and R-Series conventional oil field recovered 5.93% of its total recoverable reserves, with peak production expected in 2024. The peak production will approximately 6.61 thousand bpd of crude oil and condensate and 4 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2062. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 40.99 Mmboe, comprised of 37.35 Mmbbl of crude oil & condensate and 21.89 bcf of natural gas reserves. Ratna and R-Series conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
About Oil and Natural Gas
Oil and Natural Gas Corp Ltd (ONGC) is an integrated energy company operating along the hydrocarbon value chain. It discovers, produces, refines and markets oil and gas, and also manufactures petrochemicals. ONGC also carries out power generation and has considerable renewable energy operations. The company carries out refining operations through Mangalore Refinery and Petrochemicals Ltd and Hindustan Petroleum Corporation Ltd. It sells products to oil refining and gas marketing companies. In addition, the company conducts overseas operations through its subsidiary, ONGC Videsh Ltd (OVL). It has operations in Latin America, the Middle East and Africa, Asia-Pacific, and Europe. ONGC is headquartered in New Delhi, India.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.