Oil India Chairman Ranjit Rath (Source: Oil India Ltd)
Oil India eyes IOC partnerships
Chairman talks up IOC and NOC tie-ups to help substantially boost oil and gas production over the next two years
Oil India Ltd (OIL) is courting IOCs and NOCs to help boost its gas output by 56% and oil production by 18% in the next two years as it wins more blocks and drills deeper to satisfy the surging needs of the world’s third-largest energy consumer, Chairman Ranjit Rath said in an exclusive interview with Petroleum Economist. OIL, the second-largest hydrocarbons producer in the country, plans to hit a production capacity of 5bcm/yr of gas and 4mt/yr of oil in 2027, but it is boosting spending as it dives deeper into onshore fields and starts drilling in deepwater offshore within its ever-expanding domestic acreage, Rath said. “The global oil and gas players are looking at India seriously n
Also in this section
2 January 2025
A renewed push for oil and gas production in the US combined with a continued focus on decarbonisation are just two of the trends to look out for in the coming year
2 January 2025
The climate narrative has centred on phasing out fossil fuels in favour of renewables and novel solutions, but increasingly, policymakers are realising the importance of hydrocarbons as an enabler of the transition
2 January 2025
Global population growth is leading to ever-rising demand for reliable and affordable energy, a need gas is perfectly placed to meet
31 December 2024
With a raft of scare stories around peak demand and climate change, 2025 should be the year smart investors leave the Big Oil bogeyman to the stuff of child’s play
