India: Energy – Oil & Gas

India has a well-established upstream oil and gas industry with both state owned and private companies engaged in the sector as operators of oil and gas blocks.

As per the data issued by India’s Petroleum Planning and Analysis Cell (PPAC), which operates under the aegis of Government of India: for the period between December 2022- November 2023, the provisional natural gas production was at 35,614 million metric standard cubic meters and the provisional production of crude oil was at ~29.14 million metric tonnes . As per information provided by Directorate General of Hydrocarbons (DGH), Government of India, as on April 1, 2023, the initial in-place gas is about ~3,852 billion cubic meters with the estimated ultimate recovery quantities being ~1,830 BCM and the reserves being ~650 billion cubic meters. With respect to crude oil, as on April 1, 2022, the reserves were about 652 million metric tonnes.

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