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OIL India Exploration In April

OIL India will begin exploration in Odisha from April 2020.

Thanks to overdrive of Union Minister Dharmendra Pradhan, the OIL India will resume exploration in the State.

Mr.Pradhan harped on intensification of exploration in country’s basins and increase domestic oil and gas production.

Crude Oil Exploration by OIL India in Odisha was stopped for quite some time and with the efforts of Union Minister, now it has been decided to begin, officials say.

Out of the 23 blocks awarded to OIL, 5 in Mahanadi Onshore, 11 are situated in Assam, Assam Arakan Basin in the Northeast, 3 in Rajasthan, 1 in Krishna Godavari (KG) Offshore, 2 in Andaman Shallow Offshore and 1 in Kerala-Konkan Offshore basins.
 


In fact ONGC and OIL India will be investing Rs.1.77 Lakh Crore for exploration and production activities in next five years, Minister announced recently..

“The tentative domestic investment in next five years by ONGC and Oil India in exploration and production related activities is about Rs 1,60,140.60 crore and Rs 17,575.83 crore, respectively,” Mr.Pradhan said in Parliament.


Mr. Pradhan said the tentative targets fixed by MoPNG indicate the country’s crude oil production is expected to rise 14 per cent to 38.91 Million Tonne (MT) while natural gas output is projected to rise 69 per cent to 55.68 Billion Cubic Meter by 2023-24.

In the meantime, the Ministry of Petroleum and Natural Gas has allowed OIL India to go for exploration in Offshore of Odisha.
Accordingly Director General Hydro Carbons (DGHC) has also green signaled OIL India to go for exploration and (DGHC) also requested the State Government to provide necessary license and support for beginning of its operations.

State Government will provide Petroleum Exploration License to Oil India and other requisite arrangements.

OIL India is premier oil behemoth of Government of India, engaged in exploration, production and transportation of crude oil and natural gas in different parts of India and abroad.

Its Bay Exploration Project is in Bhubaneswar and this office coordinates exploration, officials say.

OIL India is taking up CSR activities in the State and with intensification of exploration activities more funds will be pumped into the State for such activities, officials feel.
 


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