India has a reserves balance of 1.4bn tonnes

Vol 4, PW 14 (16 Aug 00) Exploration & Production

How much oil and gas reserves does India still contain On 7th August Naik told the house that India's reserves (balance) of oil plus oil equivalent gas were estimated at 1,417.34m tonnes.

The figures, revealed Naik, were correct on 1st April, 1999. In his presentation, Naik added that between 1991 and April 2000 the Indian government has signed 30 Production Sharing Contracts with overseas companies.

He listed the following with operations in India: Hardy Exploration & Production Inc. (UK) Niko Resources (Canada) Shell India Production & Development BV (The Netherlands) Okland International LDC (USA) MD Petrom Oil & Gas Pvt.

Ltd. (Romania) Mosbacher India LLC (USA) Tullow Oil Plc. (Ireland) Joshi Technologies International Inc.

(USA) Centurian Energy (Canada) Canaro Resources (Canada) Polish Oil & Gas Company (Poland) Cairn Energy India Pty. Ltd. (UK) Enron Oil and Gas India Ltd (incorporated in the Cayman Islands) Enron International Mauritius Ltd (incorporated in the Cayman Islands) Naik responded to another query by announcing that the Gas Linkage Committee (GLC) has allocated 103.754m cubic metres a day to a range of industries in the fertilizer, power, and sponge iron sectors.

Confusingly, he added that the existing availability of natural gas in India today is only 64m cm/d, begging the question: why is the Gas Linkage Committee promising industry more gas than the country is producing Does it know something we don't