Oil and NaturalGas Reserves

Petroleum producing drilling areas

Petroleum Natural Gas India:

Petroleum

Petroleum is obtained from sedimentary rocks. Most of the oil reserves in India are associated with and fault traps in the sedimentary rocks.
India is the 3^rd oil consuming nation in the world as it consumes 230 million tonnes of oil and oil products per year(2022-23).
The estimated reserves of crude oil in India in 2018 stood 49 million tones, ranking 24th in the world and accounting for about 0.3% of the world’s total oil reserves.
India import 82% of its oil needs and aims to bring it down to 67% by 2022 by replacing it with local exploration, renewable energy and ethanol fuel.

Oil producing regions in india:

(a) Assam Oil Region

It is India’s most important and oldest oil region. The main sites are Digboi, Naharkatia, Moran–hugrijan and Surma river valley.
Natural gas is also found in Hugrijan-Moran

(b) Gujarat Oil Region

The major oil areas in Gujarat are Khambat and Ankleshwar while other important oil producing regions are N awagaon, Kosamba, Olpad, Dholka, Mehsana and Kalol.
Mineral oil has also been found in Aliabet Island, 45 km away from Bhavnagar in Saurashtra region (Gujarat).

(c) Mumbai High Region

Mumbai High region is located 176 km away from Mumbai coast, is also an important oil region. The mineral oil exploration started in this region since 1976.
The ship named Sagar Samrat was called from Japan to extract oil from deep oceanic part of this region.
Moreover, 60% of the total oil produced in the country is extracted from this region.

The mineral production in the off-shore regions is not considered part of state explorations rather it is mentioned separately. Therefore, its production is not included in the production of Maharashtra.
Gujarat – The largest producer of crude oil and natural gas in India is Gujarat.
Krishna Godavari basin -At present, mineral oil is also extracted from the Ravva oil blocks in Krishna Godavari basin.
Rajasthan -Cairn Energy and ONGC have jointly started producing oil at commercial level from Mangala oil field in Rajasthan. It was the biggest on-shore discovery of the last two decades. Bhagyam and Aishwarya oil fields in Rajasthan are also having large amounts of oil reserves. It has been estimated that 1 million barrel of oil can be extracted from all the three oil fields. Mangala oil field can produce 20% of domestic production for next two years.

Ravva oil blocks in Krishna Godavari::

Krishna Godavari Basin

It is the largest natural gas reserve in India, discovered by Reliance Industries in 2003.
A new reserve of natural gas has been found at Yanam in Andhra Pradesh which is 6 km away and 5,061m deep from Kakinada coast.
Reliance Industry Ltd, a private sector company, has started production of natural gas from Krishna Godavari Basin (K.G. Basin) D.B, Block located in Bay of Bengal from 1^st April, 1009.
This area was allotted to reliance industries(RIL) during initial phase of new oil and petroleum exploration licensing schemes.
Project in KG-D6 is also known as KG-DWN-98/1. This Project had the potential to change India’s energy fortune.

Oil and Natural Gas Corporation (ONGC)

ONGC was established in 1956 for systematic Oil Exploration and Production. Government of India holds 68.94% equity stake and it was the largest profit making PSU in India during 2016-17 fiscal year. It is involved in exploring and exploiting hydrocarbons in 26 sedimentary basins. ONGC produces around 70% of Indian crude oil and 62% of its natural gas.
ONGC launched its Sagar Samriddhi project in August, 2003 to conduct deep water exploration in eastern and western coasts with the help of its fifth generation ultra-modem drill-ship Belford Dolphin, which is capable of drilling upto a depth of 3,000 m under water.
ONGC Videsh Ltd (OVL) has invested in the oil-region of Sakhalin Island of Eastern Russia for the production of oil and natural gas, in which its share is 20%. This is the largest overseas investment made by any Indian company.
ONGC videsh has stake in 41 oil and gas project in 20 countries, maximum 7 project in Colombia.
The first shipment from the Russian oil fields started in April, 2006.
The production work in Myanmar has started since December, 2005. The OVL and Gas Authority of India Ltd have 20% and 10% stakes respectively in it.
In search of oil and natural gas in South China Sea, Indian company ONGC Videsh Ltd (OVL) and Petro Vietnam (Vietnam oil and Gas group) have signed an agreement.