ONGC Ltd. announced the successful commencement of "First Oil" production from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal. With commencement of this First Oil from 'M - field' on 7th January 2024, ONGC is completing Phase 2. The project is on track with final phase of project planned to be completed by June 2024 and then onwards commencement of gradual ramping up to reach planned peak production of 45,000 barrels of oil per day (bopd) and 10 MMSCMD of gas from the deep- water KG-DWN- 98/2 Block.