New Delhi, Jan. 11: Over 130 deep sea blocks around the southern tip and east coast of the country have been earmarked for oil exploration. A large number of them have the same geological features as proven oil-rich areas in the Gulf of Mexico, west coast of Africa and Campos Basin.
This was stated today by the director general of hydrocarbons, Avinash Chandra. He was addressing a plenary session at the Petrotech-2003 international conference.
India has the capability of producing 2 to 3 per cent of world’s oil and gas production with a sedimentary basin region of around 5.37 per cent in the coming few years, Chandra said.
“If exclusive export economic zone is extended by surveys after 2007, India’s sedimentary area can become 5.37 per cent of the world’s sedimentary area. Could we not produce 2-3 per cent of world’s total oil and gas instead of merely 0.9 per cent at present'” Chandra said in his presentation on Prospectivity of Indian Basins and New Finds.
The director general said that the recent oil and gas discoveries in the deep waters of Krishna-Godavari basin, Gulf of Cambay and Rajasthan had greatly improved the “perceived prospects” of Indian basins. The hydrocarbon resource estimates for the east coast deep waters have now been revised upwards from 4 billion tonnes to 7 billion tonnes, he added.
Chandra further disclosed that intensive exploration, using cutting edge technology, had resulted in significant additional reserve accretion in and around already discovered fields such as Ravva on the eastern offshore and Tapti, Vasai and Hazira in the west.