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I read this sentence in the newspaper. I found a definition of flagging from the dictionary as "weak from exhaustion," but I can not understand how it applies here:

it is investing over $1 billion in the refining and petrochemical industries and has drawn plans to double natural gas output from its flagging KG-D6 fields to 60 million cubic meters day on a "sustained" basis.

Can any one explain it?

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up vote 4 down vote accepted

In this context,

Flagging: Become tired, weaker, or less enthusiastic

The KG-D6 is not "weak from exhaustion" as you think. Only its production has decreased (become weaker). Actually, in this case, the natural gas field is flagging because the gas firm (Reliance Industries) had to shut six gas wells due to water and sand ingress. (Fact: The production has hit an all time low of 28 million standard cubic meters per day.)

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In this context it means declining or depleted in value. In this case, the natural gas fields are not producing as much gas (or simply value) as they used to.

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