Season’s greetings and wishing everyone good health and happiness.
In the new year 2022, economic growth and energy demand are back on track. Energy security and accessibility to people will be focus areas in this rapid demand growth scenario. To increase domestic throughput and exploration footprint, the Ministry has set stern targets through E&P Action Plan wherein the sector shall strive to achieve 40 MMT oil production and 50 BCM gas production by 2024. Acreage accretion is pegged at 0.5 Million SKM by 2025 and 1 Million SKM by 2030. Special thrust is on offshore exploration along with North-East Region.
To achieve this target, the Government is taking all possible measures to ensure higher outputs from both conventional and unconventional sources of energy while working for overall development of E&P sector. The key focus areas are industry synergy, providing lucrative investment opportunities, data driven reforms and further improving Ease of Doing Business through procedural simplifications and enabling digitalization initiatives.
Offerings through Open Acreage Licensing Policy (OALP) under HELP, Discovered Small Field (DSF) and Coal Bed Methane (CBM) under attractive revenue sharing contract regime have given opportunities to all categories of players like new entrants, foreign companies, large operators. OALP provides opportunity to established players offering bidder selected large unexplored acreages. Production Enhancement Contract offered by National Oil Companies is also a good opportunity for investors looking to bid individually or as a part of consortium, for either expanding their current E&P portfolio or to diversify into domestic E&P sector. I invite the industry stakeholders to invest in Indian E&P sector and participate in ongoing opportunities.
The Government of India, recognizing how crucial quality E&P data is for making informed decision making, is in the process of launching a national programme for acquisition and assimilation of geo-scientific data for a comprehensive appraisal of the Indian sedimentary basins. For comprehensive appraisal of Andaman offshore, acquisition of 22,500 LKM 2D Broadband seismic data is nearing completion. The remaining un-appraised EEZ areas are also being taken up for 2D seismic data acquisition, to be completed in a year.
The global energy sector is at a transition point today with rapid shift towards lower carbon pathways and energy transition. In tandem with rest of the world, India is also committed to move towards cleaner fuel like natural gas, aiming to increase its share in the primary energy basket. We aim to increase share of natural gas in energy mix from current ~6% to 15% by 2030. With major gas discoveries on their way to monetization and amply supported by the increasing gas infrastructure, we are confident to meet this target.
In the era of digital revolution, Government is set to make processes more efficient and delivery of services more effective, through a slew of measures to simplify and digitalize various approval processes. Digital interventions like online self-certification in contract management, Urja Pragati Portal for expediting regulatory clearances and Upstream India Portal for improving coordination and sharing of resources, have been well received by the industry. To further facilitate stakeholders, North-East Coordination Committee is functioning in DGH to fast-track clearances in the North-Eastern States. Renewed efforts are being made to apprise the global investors about potential of our sedimentary basins and investor friendly policies introduced in E & P sector of India through continuous and focused engagements.
Ministry of Petroleum and Natural Gas is committed to continuously making reforms adapted to global best practices. As its technical arm, DGH is committed to work with the industry to surpass the targets we have set for ourselves and ensure a collaborative ecosystem that fosters fresh investments and induction of new technology in the Indian E&P sector. Let us join hands in achieving our objectives.
S. C. L. Das