September 12, 2017 / 12:43 PM / 10 months ago

India to acquire seismic data of 48,000 line kms to boost oil, gas output

REUTERS - India aims to acquire seismic data of 48,243 line kilometres in five years as the world’s third biggest oil consumer seeks to boost its output by offering more areas for exploration, the government said on Tuesday.

State-run explorers Oil India Ltd and Oil and Natural Gas Corp Ltd will carry out the 2D seismic survey in areas spread across 24 states.

The two companies will invest 29.33 billion rupees ($457.99 million) for this which will be reimbursed by the government.

“As a basis for launching future exploration and production activities, appraisal of all unappraised areas is an important task,” the government said in a statement.

Oil India will cover the north-eastern states, while the remaining areas will be surveyed by ONGC.

($1 = 64.0410 Indian rupees)

Reporting by Mohi Narayan; Editing by Subhranshu Sahu

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