Indian E&P programmes are "gamed"-IV: Why is the government in a hurry to farm out blocks?
What is the possibility of achieving Narendra Modi's target of achieving a policy objective of reducing energy imports by 10 per cent over current levels by 2022? 8India’s likely future growth in oil demand to 2022 (forecast at just over 240 Mt) implies that implementation of the 10 per cent reduction could equate to a higher requirement of 20.2 Mt (over 400 kb/d) of incremental production by 2022 (around 50 per cent higher than current levels). 8This does not seem likely at the current rate of progress. 8The two Discovered Field Rounds -- the second is in the offing -- are unlikely to do the job 8Putting nomination blocks -- which contain some of India's most prized hydrocarbon reserves -- to auction is seen as an attempt to reach the 10% reduction in import dependence target 8But will this bring about the desired result? Click on Reports to know more