Oil India exploration in State from April
The Oil India Limited (OIL) would begin exploration in Odisha from April 2020, said Union Petroleum and Natural Gas Minister Dharmendra Pradhan recently. Pradhan harped on intensification of exploration in country’s basins and increase domestic oil and gas production.
Out of the 23 blocks awarded to OIL, fiver are in Mahanadi onshore, 11 in Assam and three in Rajasthan. The ONGC and the OIL would together invest Rs 1.77 lakh crore for exploration and production activities in next five years, said the Minister
Pradhan said the tentative targets fixed the Petroleum Minister indicate the country’s crude oil production is expected to rise by 14 per cent to 38.91 million tonne (MT) while natural gas output is projected to rise 69 per cent to 55.68 billion cubic metre by 2023-24.
