India does have major hydrocarbon potential, there have been some major oil discoveries in the past years example 2002 Cairn energy found 2billion barrels of oil in Rajastan with a potential of tapping 1.3billion barrels, Reliance found a major gas field offshore bay of bengal (KGbasin)known as Dhirubhai block, the gas is intented to flow by 2008 for commercial use, GSPC also found gas in KG basin, Cairn found oil in Rawa block which was previously operated by ONGC, Cairn where actually drilling a water injection well when they encountered massive Oil reserve, Hardy oil has found gas currently, ONGC has found oil reserves in the Mahanadi block, and all these blocks were given in Pre-NELP (New Exploration Licensing policy) currently NELP-VI is been announced hence there is a good potential but it is the investment that Indian companies are lacking as to drill an exploratary well in deep water will cost $60m and its always not one well leads to a find companies need to drill atleast 6 wells in the block supported by good geological surveys to hit black gold as such investments are not possible by Indian companies we need likes of Exxon, shell, BP in the fray and Indian companies are tieing up with them to get the technology, currently ONGC has tied up with ENI, Indian basins are rich the Bengal fan(bay of bengal) and the arabian fan (arabian sea have immense potential western geologist love to study the sedimentation of these basins and are very opptimistic its just in India that everyone are into IT which is just an overspill of european market and our youths are proud of it, We need youths taking up petroleum , geology as subjects and specilise so as to tap the immense wealth India has hidden, its a treasure hunt, and no alternative energy can run this world its just oil and thats the reason America ,UK, have dominated the energy market by just providing technology witouth these technologies middle east wouldnt be producing at this level and all the companies run in the middle east are western none indegeniuos Aramco is part owned by americans. so India just need to devolop its potential at the same time bid for blocks overseas which currently indian companies are doing ONGC videsh, OIL, GAIL, Reliance etc.
RE:Hydrocarbon rules
by Nirmalya Chakraborty on Feb 16, 2007 04:18 PM Permalink
A good analysis.. Actually as a common man, I never knew about all these developments.. But my question is even if we get oil reserves in the blocks which are under exploration how long will it be able to sustain the demand in India.. Please tell us more about the potential of such discoveries..
RE:RE:Hydrocarbon rules
by Rock Water on Feb 16, 2007 05:51 PM Permalink
I like to throw light into how much oil saudi produces per day its 2 million barrels per day so their finds are enormous and once you have massive finds they sustain for a long time like instance Iraq supposed to have 300 billion barrels of reserves in place and u need to tap it thats all so oil finds can be massive for example Digboi in assam was the second discovery of oil in the world after texas in 1889 but till today the well produces 200 barrels per day not bad for a well which is more then 200 years old there are good reserves in Assam thats the reason we have trouble there i hope u got a fair idea
RE:Hydrocarbon rules
by asokan a on Feb 15, 2007 05:43 PM Permalink
Nice. But the potential is a fraction of our requirement. Iran gas is very crucial to us.
RE:Hydrocarbon rules
by rajkumar vaikhari on Feb 15, 2007 06:04 PM Permalink
excellent analysis but I disagree abt the alternate energy bit- WE NEED alternate energy
RE:RE:Hydrocarbon rules
by Rock Water on Feb 15, 2007 07:28 PM Permalink
Asokan I like to tell you that the above finds i mentioned are related to Pre-NELP and the current round is NELP-VI so 6 rounds of licensing have been alloted the last round i.e VI had 55 blocks and the least ever that has ever been awarded is 28 blocks so in an average there are 240 blocks to be explored and one good find has the potential to overcome all worlds production as the Ganges and brahamaputra are flowing for ages into the bay of bengal and Indus, Jhelum, Ravi etc have been flowing into arabian sea, so take into consideration about the sedimenation its enormous its in ultradeep waters say 3000m water depth so there are challenges but with the right technology we can make it, I am positive as I have spoken to some of thw worlds best geologist and professors from UK and the world and they are curious to know the hidden potential of our amazing basins, so we have just hit a small bit of our massive reserve and yes Iran front is important as we can have gas delivered at our door but world political affairs r more challengin then finding hydrocarbon reserves. and yes rajkumar we need alternate energy its nice to see India developing all fields of energy opportunities, renewable, non renewable its all energy and employment and eventually development, but i will urge graduates not just head in direction of one field like a civil engineer opting IT, I wont support it, I would like to see a civil engineer as a good structural engineer or transportation engineer, India is looking to develop infrastructure big time so any graduates shouldnt shift fields to just one area as its the highest paid in India as this will lead to knowledge gaps and like energy security we need our graduates concentrating in new areas as well, we need good quality engineers and scientist not just IT engineers every where its a bit boring i pressume mail me if anyone is interested in knowing abt a career in the oil industry ill will like to pass on some good academic materials rockwater@rediffmail.com
RE:RE:RE:Hydrocarbon rules
by lokesh mehta on Feb 16, 2007 03:33 PM Permalink
I am interested in such academic material. I have recently initiated myself into OIL & GAS Industry.lmehta@gail.co.in
