Govt aims to raise domestic gas production by 75% in three years

Oil and gas exploration and production operators and national oil companies are working to attain a production level of 50 billion cubic metres (BCM) of gas and 40 million tonne (MT) of crude oil by FY24, the Union ministry of petroleum and natural gas said in a social media post.

Domestic natural gas production in FY21 was 28.6 BCM, while 30.5 MT of crude oil was produced in the country in the fiscal. Indigenous natural gas production caters to about 51% of the country’s requirements, while around 85% of the country’s crude oil is imported.