India's Hydrocarbon Outlook – 2022-2023

133 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL Gas (in BCM) 17.0 17.9 19.1 18.7 17.3 16.2 16.0 19.3 20.7 5.0 4.1 3.0 2.0 1.1 6.7 7.7 10.8 10.9 9.9 10.6 10.8 10.5 10.2 11.2 11.2 12.0 13.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 (P) 2023-24 (P) 2024-25 (P) ONGC O shore Others O shore Onshore 44.5 41 34.6 34.0 28.7 31.2 32.9 31.9 32.6 • O shore contributes 2/3rd of gas production • O shore fields are expected to account for more than 70% of the total natural gas to be produced in India in 2024-25 • Eastern o shore is expected to contribute majority of the incremental gas production Forecast Offshore fields are expected to account for 71% of the total natural gas to be produced in India in 2024-25 Contribution in offshore production 2022- 23 (P):ONGC: 67.5% | Vedanta: 1% | RIL: 31% Eastern offshore is expected to contribute majority of the incremental gas production Sneak Peek at Recent initiatives in E & P Sector in Indian offshore Area The oil and gas sector plays a critical role in meeting India's growing energy needs and ensuring energy security for the country. India is presently the third-largest oil importer globally. The government is working on several initiatives to enhance domestic production of energy sources to reduce import dependency. The various measures recently implemented by the Indian government in the offshore territory are steps to bolster exploration endeavors in the offshore basins. The particulars of these measures are delineated below. a) Offshore Blocks Awarded in OALP Rounds I to VII 31 offshore blocks awarded in OALP I to VII m 24 Shallow Water; 2 Deepwater and 5 Ultra Deepwater Category-I Blocks: 18 Category-II Blocks: 12 Category-III Blocks: 1 m Acreage awarded: 87,300+ Sq. Km Work Programme Commitment: m 2D Seismic: 17,880 LKM m 3D Seismic: 24,863 SKM m Exploratory Wells: 91 m USD 93 Million committed investment in offshore