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India seeks global investors for oil and gas fields

by ChemOrbis Editorial Team -
  • 24/08/2016 (16:59)
According to media reports, India is looking to the global market for investments with the purpose of developing its small oil and gas fields due to a recovery in oil demand in the country. No prior experience will be required for the development of these fields.

India is mainly dependent on oil imports, but the country can also produce about 20% of its requirement. The country’s current oil production stands at around 37 million tons, however demand is growing. Last year, the total requirement of crude oil was at 225 million tons and about 78% of that was imported mostly from Gulf countries.

The fields are located in various areas such as Assam, Gujarat, Andhra Pradesh, Rajasthan and Tamil Nadu with a potential production capacity of 625 million barrels of oil.
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