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The Panna-Mukta and Tapti joint venture on Wednesday said it has achieved production of 500 million barrels of oil equivalent (mmboe) from the Panna-Mukta and Tapti fields. This was achieved on June 15.
The fields account for nearly 6.5 per cent of country’s domestic oil and gas production. The venture consists of ONGC with 40 per cent stake; Reliance Industries Ltd with 30 per cent and BG Exploration and Production India Ltd with remaining 30 per cent stake.
“By reaching the 500-mmboe production milestone, the Panna-Mukta and Tapti fields can officially be declared “giant” - the first asset in India under a production sharing contract to reach this landmark,” the joint venture said in a statement.
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