By reducing our dependence of foreign oil and increasing alternative energy sources such as ethanol, we can begin to bring down prices at the pumps, create thousands of new jobs and bring a much needed boost to our economy.

Good morning everyone, I strongly support that India's Economy and Hydrocarbon Resources are a perfect match. Both have huge potential which is still untapped and unexplored. Rich gas findings on the east coast by Reliance Industries, Cairn Energy and other exploration companies in Gujarat and Rajasthan are indications of the rich potential

According to DGH, the east coast alone reserves of seven billion tonnes and not four billion tonnes as estimated earlier.In fact, the east coast of India has the potential to match or surpass west coast's production, including Mumbai High, which accounts for 40 percent of present indigenous production

In January 2011, the USEnergyInformation Administration estimated that India held 38 trillion cubic feet of proven natural gas reserves.

That was good enough for the needs of the nation for 29 years, it was said.

Scientists have identified 28 sedimentary basins of shale gas (natural gas found trapped in shale formations under the ground), including ten potential producing basins, across India. These have been classified according to their hydrocarbon potential, and hold an estimated 527 trillion cubic feet (tcf) of reserves

What the estimated figure of 527 trillion cubic feet is correct?

Yes, 527 trillion cubic feet of gas, of which 50%, or over 260 tcf, were recoverable?

That amount of fuel could last for at least 200 years and would potentially be the fifth biggest hoard in the world.

The Indian oil companies are exploring and making partnerships in other countries to produce hydrocarbons.

Are we saving our resources for the future?That is great only if we are not putting at risk our economy.

India is importing around 79 percent of the domestic requirement. The nine rounds of NELPs have seen 247 blocks being awarded, but only 16 of those have been developed so far.

This presents great opportunities for companies across the oil and gas value chain to be involved in industry growth. New technologies and easier access to capital allows for increased activity, which may cater to requirements spanning upstream operations to downstream refineries.

As its economy flourished, Indias demand for energy has risen by more than 70 percent. And this trend is expected to continue in the next decade making India the third largest energy consumer globally by 2020. With the growth in automobiles, power and fertilizers, oil and gas as an energy source now represents more than 45 percent of the countrys total energy consumption.

Despite these challenges, India has large possibilities for growth in the oil and gas sector. Only half of the countrys potential basins have been explored, and large blocks offshore remain untested, especially in deep water.

Energy sector is a key enabler for wider economic development. And with hydrocarbons dominating the world energy scene, India's growth is inextricably linked to its exploration and production capability.

Meeting Indias energy requirements is cornerstone in ensuring that the nations economic growth continues. It is imperative the government works toward energy self-sufficiency. In this regard there have been some positive moves in the form of NELPs, but the immediate need is an actionable operating philosophy and favorable framework of policies that can help accelerate the efforts for exploring and developing oil and gas, thereby ensuring energy self-sufficiency for the nation.

By reducing our dependence of foreign oil and increasing alternative energy sources

such as ethanol, we can begin to bring down prices at the pumps, create thousands of

new jobs and bring a much needed boost to our economy.

Good morning everyone,

I strongly support that

India's Economy and Hydrocarbon

Resources are a perfect match. Both have huge potential which is still untapped and

unexplored.

Rich gas findings on the east coast by Reliance Industries, Cairn Energy

and other exploration companies

in Gujarat and Rajasthan are indications of the rich

potential

According to DGH, the east coast alone reserves of seven billion tonnes and not four

billion tonnes as estimated earlier.

In fact, the east coast of India has the potential to match or surpa

ss west coast's

production, including Mumbai High, which accounts for 40 percent of present

indigenous production

In January 2011, the US

Energy

Information Administration estimated that India held 38

trillion cubic feet of proven natural gas reserves.

That was good enough for the needs of the nation for 29 years, it was said.

Scientists have identified 28 sedimentary basins of shale gas (natural gas found trapped

in shale formations under the ground),

including ten potential producing basins, across

India. These have been classified according to their hydrocarbon potential, and hold an

estimated 527 trillion cubic feet (tcf) of reserves

What the estimated figure of 527 trillion cubic feet is correct?

Y

es, 527 trillion cubic feet of gas, of which 50%, or over 260 tcf, were recoverable?

That amount of fuel could last for at least 200 years and would potentially be the fifth

biggest hoard in the world.

The Indian oil companies are exploring and making part

nerships in other countries to

produce hydrocarbons.

Are we saving our resources for the future?

That is great only if

we are not putting at risk our economy.