India is writing a new saga of development: Hon’ble Prime Minister affirms at Visakhapatnam
“Today the whole world is passing through a new era of struggle. There is a shortage of essential goods in some countries, while some countries are facing energy crisis. Almost every country is worried about its declining economy. However, amidst all this, India is scaling great heights in many fields. India is writing a new saga of development. And it is not only you who can grasp it. The world is also watching you keenly,” Hon’ble Prime Minister Narendra Modi said while dedicating Oil and Natural Gas Corporation Limited’s U-field Onshore facilities of KG-DWN-98/2 Deep Water Block to the nation on 12 November 2022. Situated in Odalarevu in Dr. B R Ambedkar Konaseema district of Andhra Pradesh, the KG-DWN-98/2 project was dedicated to the Nation along with the dedication, inauguration, and foundation-stone laying of various other development projects worth over ₹ 10,700 crores in Visakhapatnam, Andhra Pradesh. PM Modi highlighted that India becoming the focal point of global expectations, it has become possible to work on them while placing paramount importance on the needs of Indian citizens.
The Hon’ble Governor of Andhra Pradesh Shri Biswa Bhusan Harichandan, Chief Minister of Andhra Pradesh Shri Y. S. Jagan Mohan Reddy, Union Minister for Railways, Communication, Electronics, and Information Technology Shri Ashwini Vaishnaw graced the occasion. On the red-letter day, ONGC CMD Rajesh Kumar Srivastava was also present along with Director (Offshore) Pankaj Kumar. “In the Amrit Kaal of Independence, the country is pacing on the path of development with the goal of a developed India. This journey of development is multidimensional. It also includes concern for the needs of the common man's life. This also includes building the best modern infrastructure,” the PM articulated.
The Prime Minister said that such projects will fast-track India’s development to the next level, and are aligned with the government’s vision of inclusive growth. “The Government of India has adopted an integrated approach for infrastructure development”. PM Modi stated that the PM Gati Shakti National Master Plan has accelerated pace of projects, with policies and decisions aimed at improving the quality of life for the countrymen. “The country is making efforts on a large scale to realise the infinite possibilities associated with Blue Economy”, PM Modi said. He stated that, “The Gati Shakti plan has not only accelerated the pace of infrastructure construction, but has also reduced the cost of projects. Multi Modal Transport System is the future of every city and Visakhapatnam has taken a step in this direction.” Supply chain and logistics depend on multi-modal connectivity. This is the primary reason why the Union Government has adopted a new approach regarding the development of infrastructure.
The U-Field is part of ONGC’s flagship deep-water KG-DWN-98/2 Cluster-II development project in the prolific Krishna Godavari Basin. U - Field is the deepest Gas discovery of the project, with gas production potential of about 3 million Standard cubic metre of gas per day. The first well of U field, i.e., U-3-B is one of the fastest deep-water well monetized globally in record time of 11 months. The gas from these wells is evacuated through the subsea facilities connected to an Onshore Terminal at Odalarevu situated in Dr. B R Ambedkar Konaseema district of Andhra Pradesh.
In line with Hon’ble PM’s vision of Aatmanirbhar Bharat, ONGC takes pride in the development of these discoveries. The subsea structures for this project are being fabricated for the first time in the country (Katupalli Yard, Chennai), a capability which has proved to be a boon for development of domestic E&P ecosystem with extensive skill development. The U field monetization involves a CAPEX of ₹ 2917 Cr, and employment generation of ~3.4 million Man-hours. The gas produced from this project will add significant volumes to ONGC’s production and will be a giant leap towards making India a Gas-based Economy and Energy Security.
After the dedication/inauguration/foundation-stone laying of the projects, Hon’ble Prime Minister Shri Modi said that these projects, along with energy reliance will boost infrastructural development, enhance connectivity and giving an impetus to ease of living in the region. At the same time, the projects will help in significantly improving socio-economic prosperity in the region and Nation.
On the sidelines of Inauguration and dedication of 7 projects by Hon’ble PM Modi, Secretary of the Union Ministry of Petroleum and Natural Gas Pankaj Jain along with ONGC CMD and Director (Offshore) interacted with business partners involved in the KG-DWN-98/2 project. ONGC’s business partners in this project include the Indian multinational conglomerate Larsen & Toubro Ltd (L&T), the American oil field services company Baker Hughes, the energy engineering and construction company McDermott International Ltd, and the Indian multinational conglomerate Tata Group.
