India's Hydrocarbon Outlook – 2022-2023

129 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL 5.3 Key operations area: Outof thetotal operational areaof approximately 168,000 square kilometers in offshore regions, 64% of the operational area (around 108,000 Indian Offshore Hydrocarbon Resources Total Sedimentary basin area in the country is 3.36 million sq km. Out of the 26 basins, 10 of them are situated in offshore regions. Offshore basins account for 51% of the basin area and 59% of the total resources. Although deep-water areas comprise a significant portion of the offshore region (76% of the total), they remain less explored. India has discovered 12.1 billion tonnes of oil equivalent (btoe) and possesses a total risked undiscovered potential of 12.9 btoe. Out of the total discovered 12.1 btoe, the recoverable potential is 4.2 btoe. So far, 2.6 btoe have been produced, leaving a balance of 1.6 btoe in recoverable reserves. The area-weighted undiscovered risked potential in onland regions is 5.5 btoe, while offshore areas account for 7.6 btoe. Assuming a 30% recovery rate, the yet-to-find (YTF) potential of offshore areas would be approximately 3.90 btoe. There is an opportunity to explore 7.6 btoe of undiscovered resources and to develop/ produce 6.9 btoe of discovered resources. As of April 1, 2022, the cumulative oil and gas production from offshore regions in the country is approximately 1.6 btoe (oil and oil-equivalent gas). Presently, offshore regions contribute approximately 50% of the oil and 67% of the gas production in India. Basin PEL Area (in Sq.Km) PML Area (in Sq.Km) Total Area (in Sq.Km) East Coast 54796 4982 59778 West Coast 72432 35707 108139 Grand Total 127228 40690 167917 Table 5.2: Offshore PEL-PML area by Basin square kilometers) is situated on the west coast, while the remaining 36% (approximately 60,000 square kilometers) is located on the east coast.