NEW DELHI: "New seismic surveys have revealed India's reserves to be as high as three percent, with around 4.07 percent of world's total sedimentary basin," Avinash Chandra, director general of hydrocarbons, told the Petrotech 2003. The just-concluded Petrotech 2003 is India's premier oil and gas conference. As custodians of India's hydrocarbon reserves, the Directorate General of Hydrocarbon (DGH) analyses data while undertaking extensive seismic surveys to scout for new reserves. The new data puts India's potential at much higher than the earlier estimate of 0.5 percent of global hydrocarbon reserves. From rich frozen gas reserves -- also called gas hydrates -- in deep sea off the east and west coast to the Himalayan foothills, Assam, Gujarat, Rajasthan, India has been trying to tap oil and gas potential with the help of new technologies and greater infusion of funds. Subir Raha, chairman and managing director of Oil and Natural Gas Corporation (ONGC), said: "Gas hydrates are expected to be a major source of energy globally, especially in India which has substantial reserves on both coasts." "Jointly with the U.S., Canada and Russia, India is working on cutting edge technology to tap frozen gas reserves." While some early breakthrough has been achieved in Japan and the U.S. for tapping gas hydrate reserves, the technology available globally is for flow of fluids. Raha believes once a breakthrough is achieved on gas hydrates "there will be substantive energy security for India". Deepwater exploration along with drilling in potential reserves in Himalayan foothills and Assam is being taken up by ONGC for the next five years. It is trying to enhance its reserves by another six billion tonnes by 2020, including four billion tonnes from offshore deepwater blocks. "Over the next 10-15 years, state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) are seeking to double their reserve base," said Chandra. Importing around 78 million tonnes of crude oil annually, which is about 70 percent of the domestic requirement, India has been looking at a mix of energy sources to reduce reliance on imports. "There is ample geological evidence that India's hydrocarbon reserves of oil and gas can dramatically increase two to three times to around 32 million tonnes. Rich gas findings on the east coast by Reliance Industries, Cairn Energy and other exploration companies in Gujarat and Rajasthan are indications of the rich potential," said Chandra. According to DGH, the east coast alone reserves of seven billion tonnes and not four billion tonnes as estimated earlier. In fact, the east coast of India has the potential to match or surpass west coast's production, including Mumbai High, which accounts for 40 percent of present indigenous production," Chandra said. "Deep waters could well hold the key to India enhancing its hydrocarbon production. It is one area we have not yet looked at. The potential in Krishna-Godavari seems very high and we have not seen the last of the discoveries," said Ardendhu Sen, energy expert with Tata Energy Research Institute. "In addition to more gas finds, we can also hope to find oil in the east coast." President of World Petroleum Congress Eivald M. Q. Roren, however, cautioned: "Although India can find considerable amount of oil and gas, it will continue to depend on imports." Globally, Roren said, Africa, South America and the northern regions of Russia were the potentially high sources of oil and gas.
Source: IANS