Rawat emphasises the significance of exploration within the oil and fuel sector, explaining that it varieties the inspiration of the hydrocarbon trade. Exploration includes understanding the subsurface geology, tectonics, and petroleum techniques to find potential oil and fuel reserves. India has 26 sedimentary basins, with ONGC accountable for important discoveries outdoors Assam since its inception in 1956. The exploration course of consists of floor geological prospecting, geochemical prospecting, seismic research, and drilling exploratory wells.
She highlights ONGC’s efforts to extend home manufacturing, noting that solely 10 per cent of India’s sedimentary basinal space has been appraised to this point. ONGC is working to increase this appraisal, and up to date main discoveries, comparable to these within the Mahanadi offshore basin, point out promising potential. She additionally factors out that exploration contributes to the nation’s wealth, with ONGC having a prognosticated useful resource base of round 42 billion tonnes of oil and oil-equivalent fuel, of which solely a fraction has been found.
Within the context of vitality transition and the rising significance of inexperienced vitality, Rawat outlines ONGC’s methods to adapt. She mentions the importance of fuel as a transitional gas, noting ONGC’s efforts to extend fuel manufacturing and discover different vitality sources like pure hydrogen and geothermal vitality. Moreover, she discusses the potential of carbon seize and storage (CCS) and the usage of gas-based energy vegetation as cleaner vitality sources.
Rawat additionally discusses ONGC’s partnerships with worldwide oil and fuel majors, comparable to Exxon, Chevron, Whole, Shell, and Equinor, to boost exploration efforts. These partnerships contain joint technical research and knowledge sharing, notably specializing in the jap and western offshore basins. She expresses optimism in regards to the upcoming offshore bid rounds and potential amendments to the Orda Act, which might entice extra worldwide curiosity.
She outlines ONGC’s plans to considerably enhance its exploration acreage from the present 1.92 lakh sq. kilometers to five lakh sq. kilometers throughout the subsequent two years. This growth would require substantial capital expenditure (CapEx) for knowledge acquisition, processing, and exploratory drilling. ONGC goals to shorten the cycle from discovery to manufacturing and is investing in superior applied sciences for deep and ultra-deep water exploration.
(Host: Rishi Ranjan Kala, Producer: Anjana PV)
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