Oil Discovered In Barmer District of Rajasthan
Vedanta Limited, an subsidiary of Vedanta Resources Limited, is one of the world’s driving Oil and Gas and Metals organization with critical activities in Oil and Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminum and Power across India, South Africa and Namibia.
Recently Cairn Vedanta a subsidiary of Vedanta group has found oil in a Barmer district block of Rajasthan. Under Open Acreage Licensing Policy of 2018 this block along with 41 other blocks were allocated to Carin Vedanta.
Open Acreage Licensing Policy is that wherever there is potential of crude oil or any other rich resource, government will auction that blocks to private companies to mine the resources. It is the crucial part of HELP (Hydrocarbon Exploration and Licensing Policy) which was formed for exploration and production of hydrocarbon resources across India.
Some government resource companies are ONGC, Coal India Ltd etc.
In 2018 41 blocks were allocated to Vedanta Limited. And during this time of Russia-Ukraine war when oil prices are sky rocketed this discovery of oil is very positive situation for India even for long term to reduce import bills.
Company has informed the Directorate General of Hydrocarbons (GDC) and Ministry of Petroleum and Natural Gas which was formed to effectively manage oil and natural gas without compromising with environment and health of human beings. The Block RJ-ONHP-2017/1 is located in Chohtan and Gudamalani Tehsil of district of Barmer. This block is named as Durga.
This is the 3rd discovery till now Vedanata has found oil in their blocks. This block is close to one of the most highly productive blocks of Rajasthan producing 150,000 barrels of oil and gas per day.
Now the Authority lies with the Vedanta Limited to explore and mine the resources. Under OLPA companies are allowed to carved out areas where there is possibility of presence of oil and gas and they can give their expression of interest to mine. Government would start the bid and whosoever bids the highest amount that region or block is given to that company to erxplore that region.
Earlier government used to do all such things but now power is given to companies as government may took a long time to process things and Information.
Rajasthan contributes 20-22% of crude oil production in India standing in second position but on the top position is Bombay High with 40% production of oil.
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