India’s Hydrocarbon Outlook 2024 133 A Report on Exploration & Production Activities Sharing Contract (PSC), Open Acreage Licensing Program (OALP), Discovered Small Fields (DSF), and Coal Bed Methane (CBM) where both conventional and unconventional hydrocarbon resources are developed and produced. Nomination regime fields operated by two National Oil Companies (NOC), Oil & Natural Gas Corporation Ltd. (ONGC) and Oil India Limited (OIL) have major share of 70% and 61% in total recoverable (2P+2C) oil and gas volumes respectively. The total 2P reserves at country level for oil and gas are 434 MMT and 643 BCM and the fields under Nomination regime have a significant share of 83% and 58% of total reserves of oil and gas respectively. The total 2C contingent resources at country level are 237 MMT and 451 BCM and the fields under Nomination regime have a major share of 47% and 64% of total oil and gas respectively. Nomination acreage have also significant shares in fields and blocks under PSC and other operating regimes. Unconventional CBM regime accounts for 9% share in India’s 2P gas reserves. It is worth mentioning here that the 2P reserves reported by NOCs for fields under nomination regimes is based on field’s economic life whereas for PSC, DSF and OALP regimes, 2P reserves are till the expiry of PSC or RSC contracts. The 2P EUR of Nomination fields for oil &condensate is 27 % of its in place at the end of field’s life with recovery factor of 22 % as on 1st April 2024. It provides immense opportunity to NOCs to review major oil fields under Nomination Regimes and develop a strategy to accelerate production by undertaking infill drilling, campaign to improve water injection performance with continuous monitoring of water injection wells/plants. DGH will be happy to be a part of this mission of maximizing production from nomination regime fields The reported contingent resources (2C) in the country are significantly high and need to be prioritized by addressing associated ‘contingencies’ holding back their upgrade to reserves. New or re-development projects should be focused with a defined timeframe. Existing and new projects of Enhanced Oil Recovery (EOR methods), which have already been modelled and are technically matured after the successful pilot phase, need to be commercially implemented at the field scale to upgrade the contingent resources to reserves. DGH, as the central body for managing petroleum reserves and resources at the country level is constantly interacting with all E&P Operators for maximizing the reserves at a field level by adopting the best global practices in reservoir management. In the following references EUR is used to represent commercial recoverable PIIP, i.e. the sum of cumulative production and reserves. Regime 2P In-Place 2P EUR Accretion during 2023-2024 Reserves (2P) Contingent Resources(2C) Oil+Cond. (MMT) Gas (BCM) Oil+Cond. (MMT) Gas (BCM) Oil+Cond. (MMT) Gas (BCM) Oil+Cond. (MMT) Gas (BCM) Oil+Cond. (MMT) Gas (BCM) Nomination (ONGC & OIL) 6209.4 2761.8 1697.6 1421.0 9.3 10.7 361.9 374.8 110.2 289.4 PSC 956.1 770.8 229.9 346.9 3.8 19.8 67.1 187.4 121.1 106.7 DSF 63.8 91.6 5.4 24.5 1.2 6.3 5.3 24.1 5.0 19.1 OALP 6.2 34.1 0.0 0.0 0.0 0.0 0.0 0.0 0.9 20.1 CBM 0.00 342.7 0.0 63.7 0.0 -1.2 0.0 57.2 0.0 15.4 Grand Total 7235.4 4001.1 1933.0 1856.1 14.2 35.6 434.3 643.4 237.1 450.8 Table 5.1: India’s Hydrocarbon Reserves status as of 01.04.2024 (provisional) Note: As per data received from NOCs and Private/JV Companies; (-ve) accretion denotes revision in reserves/resources after adoption of PRMS standard.
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