The Cabinet Committee on Economic Affairs (CCEA) on 12 September 2017 gave green signal for a significant project to acquire 48243 Line Kilometer (LKM) 2D seismic data for appraisal of Indian sedimentary basins.
The survey project will help in increasing the investments in domestic production of oil and gas.
• The project will be implemented by National Oil Companies (NOCs). They are Oil India Limited (OIL) and Oil and Natural Gas Corporation (ONGC).
• The OIL will conduct survey in North - Eastern States. The remaining area will be covered by ONGC.
• The Survey work will be carried out in 24 States.
• The total estimated cost of the entire project is Rs. 2932.99 crore spread over five years.
• Initially, the NOCs will meet the fund requirement from their own sources, which will be reimbursed by the Union Government.
• Entire project is likely to be completed by 2019-20.
• The project will be monitored by the Directorate General of Hydrocarbons. It will review the progress of the project on monthly basis.
• The project involves engagement of large number of workers at local level where work is to be executed. This will likely generate direct as well as indirect employment for about 11000 people in the form of skilled and unskilled workers and suppliers for support services.
• After the appraisal of these basins, and based on the prospect of the area, blocks will be offered for further exploration and production.
India has 26 sedimentary basins covering an area of 3.14 million square kilometres spread over onland, shallow water and deep water.
Around 48 per cent of total sedimentary basin area does not have adequate geo-scientific data.
As a base to launch future Exploration and Production (E&P) activities, appraisal of all unappraised areas has been considered an important task.
Data acquisition is important as it helps in giving the initial insight into the basins and helps in planning the future E&P activities.
It will be useful in deciding the focus areas of the exploration activities in the country and on the basis of this primary data, E&P companies would take up further exploration activities in the acreages allocated to them.
When: 12 September 2017