In a remarkable achievement for the nation, the Krishna Godavari basin provides the first crude oil to India. The Indian government has been adopting various measures to reduce its crude oil imports for a long time now. Vehicles using alternative sources of energy were a key aspect in this regard. However, the discovery of 26 oil wells has opened new avenues to take care of the burgeoning oil needs of the country. As the energy consumption in households increases, it is becoming a stressful situation to rely on oil from other nations. With this latest discovery, things could be quite different in the coming years. Let us take a look at the details of this latest case.
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India Extracts Its First Crude Oil
The Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Monday said that the first oil from a deep-sea project, 30 kilometres off the coast of Andhra Pradesh’s Kakinada, was extracted on January 7. Further elaborating on this matter, he said, “30 kilometres off the coast of Kakinada in the Krishna Godavari Basin, the first oil was extracted yesterday. Work started on this in 2016-17, then there were some delays due to Covid, but I’m sure that out of the 26 wells there, 4 wells are already operational.” This informs about the work that has been done in this direction for a long time now. It has finally bore fruits.
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He also added, “We will not only have gas also in a very short period, but by May and June, we hope to be able to produce 45,000 barrels per day, which will be 7 per cent of our total crude oil production and 7 per cent of our gas production.” That is a significant number which could take care of a large portion of our energy needs. ONGC shared a post on social media, confirming, “ONGC commenced its ‘First Oil flow to FPSO’, from Krishna Godavari Deep-Water Block 98/2 (in the Bay of Bengal) on 7 January, nearing completion of Phase-2 of the project. Phase-3, leading to peak Oil and Gas production, is already underway and likely to be over in June 2024.”
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Having an indigenous source of crude oil can be one of the biggest assets for any country in this modern world. While we are transitioning to electric mobility, a lot of households still depend on electricity for most everyday activities. Also, there is a lot of work going on to generate electricity from renewable sources of energy. However, there is a long time to go before we can produce enough energy for all our needs from renewable sources alone. Until then, a discovery like this could contribute to the nation’s economy in a huge way while at the same time reducing our dependence on other countries. That is crucial in this modern world where it is easy for oil-producing countries to assert their authority over other countries for their benefit. Let us keep an eye out for the latest development in this space.