Question : EXPLORATION OF OIL AND GAS OPPORTUNITIES ABROAD

(a) whether the Government is encouraging national oil companies to assertively pursue oil and gas opportunities abroad; and

(b) If so, the details thereof?

MINISTER OF STATE FOR PETROLEUM & NATURAL GAS (SHRI R.P.N.SINGH)

(a) Yes, Madam.

(b) In order to ensure energy security, the Government is encouraging national oil companies to pursue equity oil and gas opportunities abroad. Oil Public Sector Undertakings (PSUs) have acquired Exploration and Production (E&P) assets in more than 20 countries. ONGC Videsh Limited (OVL) has produced about 9.448 million metric tonne of oil & equivalent gas during the year 2010-11 from its assets abroad.