By Er. Rajesh Pathak
At Andaman sea-coast a big crude-oil reserve is reported to have been found. So big it is assumed to be that when oil will have begun to be extracted, its total capacity would touch 2.50 lacs barrels per day. From Bombay we get 1.35 barrels per day, notably. Since 1970 Bombay High has been contributing 35% of what we in all extract indigenously. Some time back near Bombay High in two more places the oil reserves are found, which are named as Suryamani and Bajramani. And in Tripura in around 200 wells the operation of oil exploration is underway, some of which is indicating to be having oil. So also, in 5 wells in Godavari basin 45 thousand barrels oil per day would estimated to be tapped when begins the extraction. Then in Bihar’s Samastipur, and Balia of UP are also found oil reserves. Question persists, what led that since the few years back the sudden spike in oil exploration that we observe .
If internal sources are to be believed, earlier country’s private companies were deliberately kept away from the oil sector . No need to say, what not the lure of kickbacks may have the man do. However, as Modi government came to power under the new amended policies the private players started to be given more leverages thereafter. Now under OALP (Open Area Licensing policy) any company can come with the proposal of exploring the oil reserves. Earlier this right was secured to government run administrative apparatus , which is condemned to adopt its lethargic approach, immune to accountability.
So also, once a great part of the land was put under restriction on strategic causes by DRDO, Coast Guard and ISRO. Now Government left this region open for the oil exploration , and extraction as well. Oil exploration companies like Chevron, Exxon Mobil and Total Energies France are reported to have even begun to make approach to India, as the news of recent development in Andaman gone viral. What is presumed from the oil reserve so far detected in Andaman is that it could be enough to fulfil our need for next 70 years if tapped to its full potential.
On the other side , regarding the greater scenario of country’s requirement of crude oil, once we were solely dependent on gulf countries. But Modi led NDA government went ahead beyond this . Expanding more numbers of outlets to hedge unforeseen turn of the events , we struck the crude oil deals with Venezuela and Guyana ; and, as also, with Russia after its engagement with Ukraine into war, notably in rupees , that’s too in 30% discount rate. Moreover, US had imposed sanction on Iran, oil from it could not have been purchased in dollar, so we opted to trade oil from it against rice from our end. And , then, with Qatar and Guyana we resorted upon striking long term deal , under which oil price will remain unaffected in face of changed global strategic circumstances, as now we see. In the Arctic north pole as the oil reserve was found, Russia reached there. So India said it is following the suit . Some time back Modi made a visit in Iran. Agreement reached that Saudi Arab would opt India for refinement of its crude oil.
Means, the will that matters in evolving how and what may benefit to one’s interest amid constraints all around. Since the years back that one gas volcano lies in Andaman that we know. Whoever go for a outing to Andaman also come here. Still we continued to import oil, and did not take the note of it.
(The author is an Engineer and a freelance writer)
