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 



Tagged as: , , , , , , , , , , , , , , , , , , , , , , , ,

Categorised in: Oil & Gas, Sector News

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: