India Aims To Offset Production Declines, Slash Energy Imports

Photo courtesy of Essar Oil.
A gas gathering station at a coalbed methane (CBM) production field in India. Approximately 10 Tcf of gas are estimated to be contained in the five CBM blocks held by Essar Oil.

With 17% of the global population, India faces a huge challenge to meet its growing domestic energy consumption, especially as it holds only 0.35% of oil reserves and 0.6% of natural gas reserves in the world.

As a result of dynamic economic growth, the country’s oil consumption is expected to increase from 3.7 million BOPD in 2013 to approximately 4.4 million BOPD by 2018.

According to the BP Statistical Review of World Energy 2014, India’s proved oil reserves stand at 5.7 billion bbl with a production of 894,000 BOPD. Ranked as the fourth largest oil consumer after China, United States, and Russia, the country imports 82% of oil and 25% of natural gas to meet its demand.

Approximately 56% of India’s reserves are offshore and 44% onshore. The majority of the reserves is located in the western offshore region, near Gujarat and Rajasthan. The Assam-Arakan basin in the northeastern region holds 23% of reserves and 12% of the production in the country.

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India Aims To Offset Production Declines, Slash Energy Imports

Abdelghani Henni, JPT Middle East Editor

01 July 2015

Volume: 67 | Issue: 7

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