State-run ONGC is set to begin crude oil production from its $5 billion project off the Andhra coast in the next two weeks. The KG-DWN 98/2 project will help boost domestic oil production and improve ONGC's profitability, which has been declining due to maturing fields. The project is India's largest subsea development project and will initially have a slow start to avoid potential issues. Gas production is expected to start in May 2024, with peak oil production of 45,000 barrels per day anticipated in 2024-25