MINISTER OF STATE (INDEPENDENT CHARGE) IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI DHARMENDRA PRADHAN)
(a) to (e) Integrated Energy Policy (IEP), prepared by Planning Commission in December, 2008 provides an estimate of primary commercial energy requirement in the range of 1667 to 2077 million tonnes of oil equivalent (Mtoe) by 2031-32 (assuming 9% growth of GDP and available technologies) from the base consumption of 329 Mtoe in 2003-04. This would imply an annual average compound growth of 6.8%.
Ministry of Petroleum & Natural Gas (MoP&NG) has been regularly co-ordinating with the Ministry of External Affairs on matters related to strengthening the Energy Security of the country. Recently, MoP&NG has forwarded a list of country-wise issues seeking proactive involvement of our Missions aboard.
To strengthen the countrys energy security, the Ministry of Petroleum & Natural Gas is engaged in oil diplomacy. Ministry of Petroleum & Natural Gas keeps in close touch with oil and gas producing/energy rich countries through various inter-governmental mechanisms like inter- Governmental Agreements, Joint Working Groups, Memoranda of Understanding/Declarations of Cooperation, holding high level conferences to seek engagement with oil and gas producing countries/international oil companies etc.
The following steps are being taken to meet the energy demand and strengthen the countrys energy security:
# Offering of exploration blocks under New Exploration Licensing Policy (NELP) 254 exploration blocks awarded.
# Implementation of improved oil recovery and enhanced oil recovery schemes by Exploration & Production (E&P) companies for ageing fields.
# Development of unconventional sources of hydrocarbon such as Coal Bed Methane (CBM) and Shale Gas.
# Policy for geo-scientific data acquisition through public funding.
# Pursuing various E&P opportunities in India and abroad to have a balanced portfolio of exploratory, developing and producing oil and gas assets.
# Pursuing transnational oil and gas pipeline projects.
# Construction of strategic crude oil reserves of 5.33 million metric tonnes capacity.
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