Would like to see their reserves replacement metric. In any oilfield it’s easier to increase production by drilling more wells or doing lots of workover. Although that might give a short term boost to production performance, it’s not a long term answer to natural production decline which is natural for every reservoir. A company needs to continuously build its reserves through exploration or M&A or both.
ONGC by the way, a couple of decades ago, adopted similar strategy of drilling lots of wells (under pressure from government to increase production) in Bombay High field and that did a grave damage to the reservoirs impacting long term recovery.
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