India sees recent surge in oil, gasoline exploration, says Petroleum Minister Hardeep Singh Puri

India is witnessing a renewed surge in oil and gasoline exploration, notably in offshore areas, underscoring the nation’s huge untapped hydrocarbon potential, Petroleum Minister Hardeep Singh Puri instructed the Parliament on Tuesday.

Puri in Rajya Sabha acknowledged that the opening of almost a million sq. kilometres of erstwhile ‘No-Go’ offshore areas in 2022 has been a landmark improvement. This transfer has unlocked important exploration frontiers, particularly in deepwater and frontier areas such because the Andaman-Nicobar (AN) offshore basin, and has been instrumental in triggering the present momentum in offshore exercise, the Minister acknowledged, in accordance with the Ministry of Petroleum & Pure Fuel.

Since 2015, Exploration and Manufacturing (E&P) firms working in India have reported 172 hydrocarbon discoveries, together with 62 in offshore areas, he mentioned. The Minister highlighted the geological significance of the Andaman-Nicobar basin, which lies throughout the Bengal-Arakan sedimentary system.

He acknowledged that the tectonic setting situated on the boundary of the Indian and Burmese plates has led to the formation of quite a few stratigraphic traps which are conducive to hydrocarbon accumulation.

This geological promise is additional amplified by the basin’s proximity to confirmed petroleum methods in Myanmar and North Sumatra, he added. The area has attracted renewed world curiosity following important gasoline discoveries in South Andaman offshore Indonesia, underlining the geological continuity throughout the area, he acknowledged.

Whereas the beneficial geology units a powerful basis, Puri emphasised that the actual breakthrough has come from the federal government’s strategic coverage interventions and a brand new exploration method.

“The revised technique has enabled aggressive acquisition of seismic knowledge, initiation of each stratigraphic and exploratory drilling, and elevated engagement with worldwide exploration companions, a number of of whom have proven eager curiosity within the newly accessible frontier blocks,” the Minister added.

Puri mentioned that the nationwide Oil Firms have deliberate to drill 4 offshore stratigraphic wells, together with one within the AN basin.

“These scientific wells are designed to check geological fashions, validate the existence of petroleum methods, and assist de-risk future industrial exploration. Though industrial accumulations haven’t but been confirmed, these efforts mark a significant step ahead in systematic and knowledge-driven hydrocarbon exploration,” he added in accordance with the Ministry’s launch.

In a major improvement, ONGC and Oil India Ltd (OIL) have launched an formidable exploration marketing campaign within the Andaman ultra-deepwater area. For the primary time, drilling operations are focusing on depths of as much as 5000 metres.

Offering an outline of the exploration outcomes to date, the Minister knowledgeable that ONGC has made hydrocarbon discoveries in 20 blocks, with an estimated reserve of 75 million metric tonnes of oil equal (MMTOE). OIL, on its half, has made seven oil and gasoline discoveries over the previous 4 years, with reserves estimated at 9.8 million barrels of oil and a pair of,706.3 million customary cubic meters of gasoline.

Referring to the Hydrocarbon Useful resource Evaluation Examine (HRAS) of 2017, which estimated the AN basin’s hydrocarbon potential at 371 MMTOE, the Minister acknowledged {that a} 2D broadband seismic survey overlaying roughly 80,000 Line Kilometres (LKM) of India’s Unique Financial Zone, together with the AN offshore area, was accomplished in 2024.

Moreover, OIL acquired 22,555 LKM of 2D seismic knowledge throughout the Deep Andaman Offshore Survey performed in 2021-22. A number of promising geological options have emerged from this knowledge, which are actually being validated by means of ongoing drilling campaigns by ONGC and OIL, Puri added in his reply.