Magazine

Last edition
October 2024

Home › Renewable energy ›Government Initiatives Aim to Reduce Crude Oil Imports and Boost Hydrocarbon Production

Government Initiatives Aim to Reduce Crude Oil Imports and Boost Hydrocarbon Production

This information was provided by Suresh Gopi, Minister of State in the Ministry of Petroleum and Natural Gas, in a written reply in the Rajya Sabha.

July 30, 2024. By Abha Rustagi

The Ministry of Petroleum and Natural Gas has announced various measures aimed at reducing India's reliance on crude oil imports and enhancing domestic hydrocarbon production.

The government’s strategy includes promoting natural gas as a primary fuel, increasing the use of renewable and alternative fuels such as ethanol, second-generation ethanol, compressed biogas (CBG), and biodiesel, and improving refinery processes and energy efficiency.

This information was provided by Suresh Gopi, Minister of State in the Ministry of Petroleum and Natural Gas, in a written reply in the Rajya Sabha.

Key initiatives include the establishment of 2G Ethanol plants by Oil Marketing Companies (OMCs) and the launch of the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative to promote CBG as automotive fuel.

To further boost hydrocarbon production, the government has introduced several policies and programs, such as Hydrocarbon Exploration and Licensing Policy (HELP) and related reforms, establishment and upgrade of the National Data Repository to a cloud-based system, etc.

The government has also released about 1 million square kilometers of previously restricted offshore areas for exploration, resulting in new gas discoveries by ONGC in the Mahanadi offshore region and the Andaman offshore area.

Additionally, investments totaling INR 7500 Cr. are being made to acquire seismic data and drill stratigraphic wells, aiming to provide quality data for bidders. The government has also approved the acquisition of additional 2D seismic data in onland and offshore areas beyond India’s Exclusive Economic Zone (EEZ).

As part of these efforts, production of Coal Bed Methane (CBM) has reached 2 million Standard Cubic Meters per day, with plans for future expansion. The Discovered Small Fields (DSF) policy has yielded cumulative production of approximately 5,56,000 barrels of oil and 139 MMSCM of gas till FY 2023-24.

Tags:

Other Renewables

Ministry of Petroleum and Natural Gas

Hydrocarbon production

Suresh Gopi

Rajya Sabha