India poised to become hydrocarbon powerhouse

Jan 13, 2003 01:00 AM

India has the potential of becoming a hydrocarbon powerhouse by producing up to 3 % of the world’s oil and gas production in the coming few years, caretakers of the country’s oil and gas reserves have said.
“If exclusive export economic zone is extended by surveys after 2007, India’s sedimentary area can become 5.37 % of the world’s sedimentary area. Could we not produce 2-3 % of the world’s total oil and gas instead of merely a 0.9 % at present?” director-general of hydrocarbons Avinash Chandra told. “There is ample geological evidence that India’s hydrocarbons reserves can dramatically increase two to three times to around 32 mm tons, up by 18 %,” Chandra said.

Chandra said the current global trend is to discover bigger and bigger oil and gas fields or “turbidite giant fields” deep under the seabed.
“India too has made it to the deepwater map of the world with the giant discoveries of Reliance Industries and Cairn Energy,” he said adding that hydrocarbons possibility in these blocks were predicted by the DGH in the Petrotech-99 itself. “In fact, data collected from the Mahanadi deepwater basin too appears very encouraging. The east coast of India has the potential to match or surpass the west coast’s production,” Chandra said.

He said under the 10th plan period, India plans to increase its gas production by 30 % with new discoveries taking place all over the country.
In the Krishna-Godavari basin itself, Chandra said there were 70-plus structures indicating prolific gas production from the region. Outlining possible oil and gas reserves across the country, the DGH said basins of Cambay, Rajasthan, Assam-Arrakan and Tripura region were the most promising with very exciting and promising indications of major hydrocarbons find.

Source: The Times of India
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