Oil and gas exploration and production operators are working to attain a production level of 50 billion cubic metres (bcm) of gas by financial year (FY) 2024. Domestic natural gas production in FY21 was 28.6 bcm. Indigenous natural gas production caters to about 51 per cent of the country’s requirements.
Domestic natural gas output had fallen 2.8 per cent year-on-year (YoY) to 31.2 bcm in FY20, reversing the growth trend recorded since FY18. However, natural gas production increased by 22.7 per cent YoY to 2.7 BCM in April 2021, mainly due to higher production from Reliance Industries and BP’s ultra-deep-water field in the KG D6 Block of the Krishna Godavari basin on the east coast.