Exploration activities (FY19)
· In FY19, 1,228,000 metres of wells were explored, developed, and 545 wells were drilled in the country. · State-owned oil companies undertake most of the upstream drilling and exploration work. · India is enhancing energy security with upstream reforms, wider crude sourcing, and Rs. 30,00,000-35,00,000 crore (Us$ 348-406 billion) planned investments by 2035, Union Minister Mr. Hardeep Singh Puri said at Urja Varta 2025. · In February 2024, Prime Minister, Mr. Narendra Modi unveiled a strategic investment plan of US$ 67 billion for the Indian gas sector over the next 5-6 years, to raise the share of natural gas in the primary energy mix from 6% to 15%. Source:MinistryofPetroleumandNatural Gas,BMI