Blitz Bureau
NEW DELHI: INDIAN oil companies have achieved a major breakthrough in Abu Dhabi by discovering oil reserves in an onshore oil and gas field. This discovery was made by Urja Bharat Private Limited (UBPL), a joint venture between Indian Oil Corporation (IOC) and Bharat PetroResources Limited (BPCL), in which both have equal stakes.
Petroleum and Natural Gas Minister Hardeep Singh Puri stated that light crude oil has been successfully discovered in the Shilaif and Habshan fields. This discovery is a major achievement for Indian Oil. The Government will work to further explore the oil and gas potential in this region.
Puri said that this discovery marks a new milestone in India’s journey towards energy self-reliance under the leadership of Prime Minister Narendra Modi. This success demonstrates the hard work and technical capabilities of Indian engineers and scientists and further reinforces India’s commitment to strengthening its energy security. India is also taking new steps to explore for oil and gas within India. Currently, oil and gas exploration is underway using modern technology in seven sedimentary regions of the country. An initiative called “Mission Anveshan” has been launched to explore for oil and gas in India.
This is the largest survey program in India’s history. Under this initiative, 20,000 kilometers of area will be surveyed, of which more than 8,000 km have been completed. Now, 1 million square km of sea area has been opened for oil exploration, and 99 per cent of restricted areas have been removed. Domestic and foreign companies are showing interest in the oil and gas fields being offered under the Open Acreage Licensing Program. The coming years could set new records for investment and participation.
The Union Minister previously stated that 25 new oil and gas fields have been identified in the country, 154 fields are active, and 14 new oil and gas discoveries have been made to date.
