India steps up exploration, development

Journal Article · Mon Aug 23 04:00:00 EDT 1976 · Oil Gas J.; (United States)

OSTI ID:7021985

Auldridge, L

A map of India shows where the country seeks new oil reserves. The government has quadrupled its budget to petroleum development in the 5-yr period ending in 1979. A revised plan calls for an expanded outlay of $1.9 billion, up from an original $470 million. For the current fiscal year (1976 to 1977), spending will amount to $412 million--an increase of 45% over the previous 12 mo. Of that total, more than 60% is allocated to the state-run Oil and Natural Gas Commission (ONGC) for on- and offshore exploration and development. More than one-half of ONGC funds will be used for work in waters off NW. India, where India's first offshore oil field is under development and on initial production. Four rigs, one owned by ONGC and 3 under contract, are working off Bombay in the Gulf of Cambay, where ONGC's showcase Bombay High field is producing 10,000 bpd. Found in 1974, the field is expected to be flowing 40,000 bpd by year-end and ultimately 200,000 bpd.

• OSTI ID: 7021985
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 74:34; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020100* -- Petroleum-- Reserves-- (-1989)
020200 -- Petroleum-- Reserves
Geology
& Exploration
020300 -- Petroleum-- Drilling & Production
ASIA
COST
DEVELOPING COUNTRIES
ENERGY SOURCES
EXPLORATION
FOSSIL FUELS
FUELS
INDIA
INDUSTRY
OFFSHORE SITES
PETROLEUM
PETROLEUM INDUSTRY
RESERVES
RESOURCE DEVELOPMENT
RESOURCES