Latest news with #Round10
Time of India
2 days ago
- Business
- Time of India
India's energy sector is rising through global uncertainty: Hardeep Puri
New Delhi: Petroleum and Natural Gas Minister Hardeep Singh Puri said on Sunday that India's energy sector is rising through global uncertainty with the reforms that have been rolled out in the oil and gas sector. "While the world faces fuel volatility, India is moving ahead with reforms. Oil refining capacity in the country has increased from 215 to 258 million metric tonnes per annum (MMTPA), and Jamnagar is now Asia's largest refinery, exporting petroleum products to 100+ countries," the minister said in a post on X. Highlighting the reforms in the upstream oil & gas exploration and production segment, the minister said that the open acreage licensing policy (OALP) Round 10 has unlocked 2.5 lakh sq km for further exploration and production. The clearances required for exploration have also been reduced from 37 to 18 to facilitate the ease of doing business. "Prime Minister Narendra Modi's vision is driving India's energy security through resilience with over $1.3 billion having been invested in the upstream segment to increase oil exploration and production," he said. The minister has also recently highlighted in the Parliament that India is witnessing a renewed surge in oil and gas exploration with the opening of nearly one million square kilometres of erstwhile 'No-Go' offshore areas in 2022. Since 2015, Exploration and Production (E&P) companies operating in India have reported 172 hydrocarbon discoveries , including 62 in offshore areas. Puri highlighted the geological significance of the AN basin, which lies at the junction of the Andaman and Nicobar Basins within the Bengal-Arakan sedimentary system. The tectonic setting, located at the boundary of the Indian and Burmese plates, has led to the formation of numerous stratigraphic traps that are conducive to hydrocarbon accumulation. This geological promise is further amplified by the basin's proximity to proven petroleum systems in Myanmar and North Sumatra. The region has attracted renewed global interest following significant gas discoveries in South Andaman offshore Indonesia, underlining the geological continuity across the region, the minister explained. In a significant development, ONGC and Oil India Ltd (OIL) have launched an ambitious exploration campaign in the Andaman ultra-deepwater region. For the first time, drilling operations are targeting depths of up to 5,000 metres. One such wildcat well, ANDW-7, drilled in a carbonate play in the East Andaman Back Arc region, has yielded encouraging geological insights. These include traces of light crude and condensate in cutting samples, heavy hydrocarbons like C-5 neo-pentane in trip gases, the minister further stated. These findings establish, for the first time, the existence of an active thermogenic petroleum system in the region, comparable to those in Myanmar and North Sumatra. While commercial reserves remain to be established, this campaign has validated the presence of a working petroleum system and laid the foundation for focused exploration in the area, the minister said. Providing an overview of the exploration outcomes so far, the Minister informed that ONGC has made hydrocarbon discoveries in 20 blocks, with an estimated reserve of 75 million metric tonnes of oil equivalent (MMTOE). Oil India Ltd., on its part, has made seven oil and gas discoveries over the past four years, with reserves estimated at 9.8 million barrels of oil and 2,706.3 million standard cubic meters of gas. --IANS sps/vd
India.com
3 days ago
- Business
- India.com
Amid Russia Oil Row, India Says Its Energy Sector Is Rising Through Global Uncertainty
NEW DELHI: Petroleum and Natural Gas Minister Hardeep Singh Puri said on Sunday that India's energy sector is rising through global uncertainty with the reforms that have been rolled out in the oil and gas sector. "While the world faces fuel volatility, India is moving ahead with reforms. Oil refining capacity in the country has increased from 215 to 258 million metric tonnes per annum (MMTPA), and Jamnagar is now Asia's largest refinery, exporting petroleum products to 100+ countries," the minister said in a post on X. Highlighting the reforms in the upstream oil gas exploration and production segment, the minister said that the open acreage licensing policy (OALP) Round 10 has unlocked 2.5 lakh sq km for further exploration and production. The clearances required for exploration have also been reduced from 37 to 18 to facilitate the ease of doing business. "Prime Minister Narendra Modi's vision is driving India's energy security through resilience with over $1.3 billion having been invested in the upstream segment to increase oil exploration and production," he said. The minister has also recently highlighted in the Parliament that India is witnessing a renewed surge in oil and gas exploration with the opening of nearly one million square kilometres of erstwhile 'No-Go' offshore areas in 2022. Since 2015, Exploration and Production companies operating in India have reported 172 hydrocarbon discoveries, including 62 in offshore areas. Puri highlighted the geological significance of the AN basin, which lies at the junction of the Andaman and Nicobar Basins within the Bengal-Arakan sedimentary system. The tectonic setting, located at the boundary of the Indian and Burmese plates, has led to the formation of numerous stratigraphic traps that are conducive to hydrocarbon accumulation. This geological promise is further amplified by the basin's proximity to proven petroleum systems in Myanmar and North Sumatra. The region has attracted renewed global interest following significant gas discoveries in South Andaman offshore Indonesia, underlining the geological continuity across the region, the minister explained. In a significant development, ONGC and Oil India Ltd (OIL) have launched an ambitious exploration campaign in the Andaman ultra-deepwater region. For the first time, drilling operations are targeting depths of up to 5,000 metres. One such wildcat well, ANDW-7, drilled in a carbonate play in the East Andaman Back Arc region, has yielded encouraging geological insights. These include traces of light crude and condensate in cutting samples, heavy hydrocarbons like C-5 neo-pentane in trip gases, the minister further stated. These findings establish, for the first time, the existence of an active thermogenic petroleum system in the region, comparable to those in Myanmar and North Sumatra. While commercial reserves remain to be established, this campaign has validated the presence of a working petroleum system and laid the foundation for focused exploration in the area, the minister said. Providing an overview of the exploration outcomes so far, the Minister informed that ONGC has made hydrocarbon discoveries in 20 blocks, with an estimated reserve of 75 million metric tonnes of oil equivalent (MMTOE). Oil India Ltd., on its part, has made seven oil and gas discoveries over the past four years, with reserves estimated at 9.8 million barrels of oil and 2,706.3 million standard cubic meters of gas.
Hans India
3 days ago
- Business
- Hans India
India's energy sector is rising through global uncertainty: Hardeep Puri
Petroleum and Natural Gas Minister Hardeep Singh Puri said on Sunday that India's energy sector is rising through global uncertainty with the reforms that have been rolled out in the oil and gas sector. "While the world faces fuel volatility, India is moving ahead with reforms. Oil refining capacity in the country has increased from 215 to 258 million metric tonnes per annum (MMTPA), and Jamnagar is now Asia's largest refinery, exporting petroleum products to 100+ countries," the minister said in a post on X. Highlighting the reforms in the upstream oil & gas exploration and production segment, the minister said that the open acreage licensing policy (OALP) Round 10 has unlocked 2.5 lakh sq km for further exploration and production. The clearances required for exploration have also been reduced from 37 to 18 to facilitate the ease of doing business. "Prime Minister Narendra Modi's vision is driving India's energy security through resilience with over $1.3 billion having been invested in the upstream segment to increase oil exploration and production," he said. The minister has also recently highlighted in the Parliament that India is witnessing a renewed surge in oil and gas exploration with the opening of nearly one million square kilometres of erstwhile 'No-Go' offshore areas in 2022. Since 2015, Exploration and Production (E&P) companies operating in India have reported 172 hydrocarbon discoveries, including 62 in offshore areas. Puri highlighted the geological significance of the AN basin, which lies at the junction of the Andaman and Nicobar Basins within the Bengal-Arakan sedimentary system. The tectonic setting, located at the boundary of the Indian and Burmese plates, has led to the formation of numerous stratigraphic traps that are conducive to hydrocarbon accumulation. This geological promise is further amplified by the basin's proximity to proven petroleum systems in Myanmar and North Sumatra. The region has attracted renewed global interest following significant gas discoveries in South Andaman offshore Indonesia, underlining the geological continuity across the region, the minister explained. In a significant development, ONGC and Oil India Ltd (OIL) have launched an ambitious exploration campaign in the Andaman ultra-deepwater region. For the first time, drilling operations are targeting depths of up to 5,000 metres. One such wildcat well, ANDW-7, drilled in a carbonate play in the East Andaman Back Arc region, has yielded encouraging geological insights. These include traces of light crude and condensate in cutting samples, heavy hydrocarbons like C-5 neo-pentane in trip gases, the minister further stated. These findings establish, for the first time, the existence of an active thermogenic petroleum system in the region, comparable to those in Myanmar and North Sumatra. While commercial reserves remain to be established, this campaign has validated the presence of a working petroleum system and laid the foundation for focused exploration in the area, the minister said. Providing an overview of the exploration outcomes so far, the Minister informed that ONGC has made hydrocarbon discoveries in 20 blocks, with an estimated reserve of 75 million metric tonnes of oil equivalent (MMTOE). Oil India Ltd., on its part, has made seven oil and gas discoveries over the past four years, with reserves estimated at 9.8 million barrels of oil and 2,706.3 million standard cubic meters of gas.
India Gazette
07-07-2025
- Business
- India Gazette
India trying to develop full E&P deepwater technology ecosystem: Hardeep Puri
New Delhi [India], July 7 (ANI): India is trying to develop a full exploration and production (E&P) deepwater technology ecosystem, as the country plans to explore over 2.5 lakh sq km in the Open Acreage Licensing Policy Round 10, Petroleum and Natural Gas Minister Hardeep said on Monday. In a series of posts on X, the Union Minister dubbed Round 10 as one of the largest offshore exploration bidding rounds globally. The Open Acreage Licensing Programme (OALP) provides potential investors with the freedom to select blocks of their choice by submitting an Expression of Interest (EOI). In a roundtable with representatives of the Offshore Energy Cluster in Bergen, Norway, the Union minister held discussions on technologies including well services, subsea operations, testing, maintenance operations, drilling tools, drilling submersible rigs, well completion services, high pressure high-temperature wells, drillships, monitoring technologies covering the entire gamut of hydrocarbons exploration, particularly deep sea exploration by the Norwegian energy professionals. Representatives from TechnipFMC, Reach Subsea, DNV Group, Odfjell Drilling, CCB Subsea, Shearwater, Innovasjon Norge, Norwegian Energy Partners, and Equinor India. Further, to provide momentum to India's efforts to achieve energy security, the minister visited the Northern Lights CO2 Terminal in Bergen, Norway. It is the largest carbon storage project funded by the Norwegian Government and partnered by Equinor, Shell, and TotalEnergies. 'This unique project can store up to 100 million tonnes of carbon dioxide. It has an open and flexible infrastructure to transport CO2 from capture sites by ship to a receiving terminal in western Norway for intermediate storage, before being transported by pipeline for safe and permanent storage in a reservoir 110 kms away from shore and 2,600 metres under the seabed,' the minister wrote in a post on X. 'We are reviewing this, and similar projects, to upgrade and expand India's energy capabilities. Norway's expertise in deepwater exploration, seismic oil surveys, offshore wind and carbon capture and storage (CCS) technologies aligns well with India's ambitious energy transition agenda,' he wrote. The minister also visited the CCB Energy Blue Hydrogen Plant, a first-of-its-kind commercial blue hydrogen facility located in Kollsnes as part of CCB Energy Park in Oygarden, Norway. 'It was interesting to see world's first commercial plant which produces blue hydrogen with integrated carbon capture and subsea storage. This strategically positioned plant is a joint initiative between CCB Energy (a part of CCB Energy Holding and H2 Production) and ZEG Power, leveraging proprietary 'ZEG-H' reforming technology with built-in CO capture. The captured carbon is transported to the adjacent Northern Lights facility for storage. The pilot plant produces around 1 ton of hydrogen per day while capturing nearly all associated CO2,' he wrote. (ANI)
New Indian Express
07-07-2025
- Business
- New Indian Express
India to develop Deepwater Exploration and Production (E&P) ecosystem with Norway
NEW DELHI: Petroleum Minister Hardeep Singh Puri on Monday announced that India plans to develop a comprehensive ecosystem for deepwater Exploration and Production (E&P) technologies as it prepares to explore over 2.5 lakh sq km under the Open Acreage Licensing Policy (OALP) Round 10. The tenth round of OALP is set to be one of the largest offshore exploration bidding rounds globally. The announcement came following the Minister's visit to the Northern Lights CO₂ Terminal in Bergen, Norway. The facility, funded by the Norwegian government and operated in partnership with Equinor, Shell, and TotalEnergies, is the largest carbon storage project of its kind. Deepwater Exploration and Production (E&P) technologies is the advanced methods, tools, and systems used to locate, drill, extract, and process oil and natural gas from reservoirs located deep beneath the ocean floor—typically at depths greater than 500 meters (1,640 feet). The Northern Lights project can store up to 100 million tonnes of carbon dioxide. It features a flexible infrastructure that enables the transport of CO₂ from capture sites by ship to a terminal in western Norway, where it is temporarily stored before being piped 110 km offshore and injected 2,600 metres below the seabed for safe and permanent storage.
