Private investments in Indian upstream sector

Vol 6, PW 8 (19 Jun 02) News in Brief

Private and joint venture companies have invested a total of Rs8, 000cr ($1.67bn) in India's upstream sector since it was opened up in 1994-95, according to figures from the Indian oil ministry.

These investments have funded 30,858 line km 2D and 8,451 sq km 3D surveys, the drilling of 40 exploratory wells and 106 development wells. What has this effort and investments yielded Ten new discoveries in three basins and sub-basins leading to cumulative oil production of 18.31m tonnes and cumulative gas production of 14.76bn cubic metres.