India to review oil and gas estimates


NEW DELHI, Jan. 21 (UPI) — The Indian government announced plans to review more than a dozen basins across the country to update its estimated oil and natural gas potential.

M. Veerappa Moily, India’s energy minister, set up a multilateral team to reassess the nation’s reserve potential. The Hindu, an Indian newspaper, reported the team will spend the next 30 months evaluating the reserve potential in 26 basins across India.

The survey covers an estimated 1.2 million square miles of Indian territory. The newspaper reported Monday the last such exercise was carried out 20 years ago for 15 reserve areas.

The Indian government is looking to secure more oil and gas reserves to help support its expanding economy. Read More 

Source: http://www.upi.com

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Categorised in: Oil & Gas, Sector News

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