"After many years, ONGC is engaged in bringing new offshore fields into production. In the next 18 months one field in eastern offshore and two fields in western offshore will go into production," ONGC chairman and managing director Subir Raha said at the company's annual general meeting.
ONGC is also targeting to deliver India's first deep water gas in April 2006, he said but did not give details.
ONGC's prime Mumbai High fields has faced recovery factor from 27 to 31 per cent. Besides, Mehsana fields in Gujarat was producing oil at a 11-year high, he said.
Raha said ONGC added over 300 million barrels of oil. ONGC has secured rights to market LPG, kerosene and aviation turbine fuel he said.
The company is targeting to produce India's first coal-bed methane gas in early 2007 and will also foray into underground coal gasification in 2009, he said.