India’s Hydrocarbon Outlook 2024 35 A Report on Exploration & Production Activities Until September 2022, offshore area was restricted for E&P operation with “No-Go” overlap of 1,366,708 sq km (57% of total offshore). In a landmark initiative, GoI, in a coordinated manner through ministerial participation had reduced the “No-Go” area to 24,832 sq km, opening up 99% of 2.36 million sq km of India’s EEZ. As an immediate follow-up, large size blocks were offered by suitable amendment to Model Revenue Sharing Contract (MRSC). Further to this, many Undefined Basin Areas (UBAs) in Mahanadi and Andaman basins were studied using new datasets and found extended from contiguous basin areas by geological analogy. Such areas, considered at that time as UBAs were duly approved for bidding, subject to future review during basin re-mapping under the next Hydrocarbon Resource Assessment Study (HRAS). Unlike the provision required for onland acreage, statutory clearances for offshore are directly administered by Union Government, as a result, such approvals are simpler and faster OFFSHORE HYDROCARBON POTENTIAL: for offshore proposals. In terms of availability of datasets, offshore deepwater is 100% appraised, while shallow water is 90%, implying a scope for holistic assessment of subsurface geology. With 6.9 billion ton oil equivalent of discovered potential (58% of country’s total estimate of 12.0 billion ton oil equivalent), the exploration activity into deepwater is still largely subdued. Given the fact that largest deepwater gas deposit, located in deepwater channels of Krishna Godavari basin has produced ~3.0 trillion cubic feet of natural gas, there are vast areas now open for intense exploration. In amajor move, National Data Repository(NDR) sold a significant volume of geoscientific datasets (both East and West coast basins) as per NDR data policy to two global service providers, whereby NDR data were valueadded for objective sale to interested parties. This has opened up excellent opportunities to use improvised datasets in the subsurface assessment workflows, much needed for wellinformed bidding of exploration blocks. Source: DGH Internal GOVERNMENT’S INITIATIVES FOR OFFSHORE EXPLORATION:
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