Energy Security
The oil and oil equivalent gas reserves (O+OEG) in the country has been increasing over the years. On March end of 2007-08, 2008-09 and 2009-10, the balance oil and oil equivalent gas reserves of the country have been 1657.93 Million Metric Tonne of Oil Equivalent (MMToe), 1667.38 MMToe and 1741.16 MMToe respectively.
Several measures have been taken to accelerate hydrocarbon exploration and production activities in order to enhance energy security of the country. These measures include:
(i) Carving out more and more areas for exploration under various rounds of New Exploration Licensing Policy (NELP) and Coal Bed Methane Policy (CBM).
(ii) Application of Enhanced Oil Recovery/Improved Oil Recovery techniques for increasing recovery factor from existing fields.
(iii) Acquisition of exploration acreages and producing properties overseas to bring in equity oil.
(iv) Arresting decline from ageing fields.
(v) Substitution of oil through use of non-conventional source of energy such as bio-diesel, ethanol etc.
Apart from the above, underground coal gasification and gas hydrates assessment are in the experimental stage.
The above information was given by the Minister of State for Petroleum & Natural Gas Shri Jitin Prasada in a written reply in the Lok Sabha today.
The oil and oil equivalent gas reserves (O+OEG) in the country has been increasing over the years. On March end of 2007-08, 2008-09 and 2009-10, the balance oil and oil equivalent gas reserves of the country have been 1657.93 Million Metric Tonne of Oil Equivalent (MMToe), 1667.38 MMToe and 1741.16 MMToe respectively.
Several measures have been taken to accelerate hydrocarbon exploration and production activities in order to enhance energy security of the country. These measures include:
(i) Carving out more and more areas for exploration under various rounds of New Exploration Licensing Policy (NELP) and Coal Bed Methane Policy (CBM).
(ii) Application of Enhanced Oil Recovery/Improved Oil Recovery techniques for increasing recovery factor from existing fields.
(iii) Acquisition of exploration acreages and producing properties overseas to bring in equity oil.
(iv) Arresting decline from ageing fields.
(v) Substitution of oil through use of non-conventional source of energy such as bio-diesel, ethanol etc.
Apart from the above, underground coal gasification and gas hydrates assessment are in the experimental stage.
The above information was given by the Minister of State for Petroleum & Natural Gas Shri Jitin Prasada in a written reply in the Lok Sabha today.
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