India’s Hydrocarbon Outlook 2024 132 A Report on Exploration & Production Activities E&P Operators in the country were directed to undertake estimation, classification, categorization, auditing and reporting of all hydrocarbons reserves and resources in accordance with PRMS standard and furnish reports along with supporting data to DGH as of 1st of April of new Financial Year (FY). As seen in the accompanying classifications, DGH maintains data pertaining to discovered petroleum initially in-place (PIIP) under three categories as Production (Cumulative), Commercial PIIP with its corresponding Reserves and Sub-commercial PIIP with its corresponding Contingent Resources. Country’s Reserves and Resources- Facts & figures As of 01-April-2024, Operators have reported about 671 MMT and 1094 BCM of recoverable (2P+2C) oil and gas respectively at the country level. There are five E&P operating regimes in the country, namely Nomination, Production It is worth mentioning that all technical submissions to DGH such as Declaration of Commerciality (DOC), Field Development Plan (FDP) and Revised FDP should be accompanied by the statement of resources and reserves based on project status and chance of commerciality conforming to the PRMS standards. RESERVES Best Estimate CONTINGENT RESOURCES PROSPECTIVE RESOURCES Range of Uncertainty 2P 3P High 1P P1 Proved COMMERCIAL SUB-COMMERCIAL TOTAL PETROLEUM INITIALLY-IN-PLACE (PIIP) P2 Probable P3 Possible 2C C1 1C C2 C3 3C 1U 2U 3U P10 P50 P90 Increasing Chance of Commerciality DISCOVERED PIIP UNDISCOVERED PIIP PRODUCTION UNRECOVERABLE UNRECOVERABLE Figure 5.2: Resources classification framework Not to scale
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