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Answer all the following questions within the word limits indicated in the brackets at the end of the questions:

Discuss the importance of off-shore oil and gas resources for India. (200 words) 


Asked On2019-06-27 12:46:02 by:RSHAH12

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India’s sustained economic growth has placed enormous demands on the country’s energy resources, with much of the added supply coming from expensive, imported coal. While renewable energy resources are refined and perfected, India requires an expansion of domestic energy production to avoid continued power shortages.
Developing India’s substantial coastal gas reserves holds the potential to ameliorate the country’s current production problems. Of the 91 trillion cubic feet of Indian gas reserves yet to be recovered, an estimated 76 trillion cubic feet are in offshore fields. The investment case for opening these offshore fields is clear, too, as the sale price of this recoverable gas is currently higher than the anticipated costs associated with bringing it to the surface.
Indian companies are already making substantial investments in offshore gas exploration. In June, ONGC Limited announced plans to invest about $950 million by 2030 in the redevelopment of Bombay High, an offshore oil and gas field in the Arabian Sea. The company expects to realize an incremental yield of about 7 million tons of oil and 185 billion cubic feet of natural gas by end of the next decade.
Successful development of India’s remote offshore fields requires expertise and implementation of advanced technologies, including equipment that operates from the sea floor under extreme pressure and temperature conditions for long periods of time without manual intervention.
Source: Quartz India

Answerd on:2019-07-03 Answerd By:ChocoLite

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