India misses oil, gas production targets
India’s public upstream companies missed targets for crude oil and natural gas production in recent years, according to India’s Press Information Bureau.
The government’s 12th 5-Year Plan began in 2012. Crude oil production through this February totaled 147 million tonnes compared with the target of 152.1 million tonnes. During the same period, 139.46 billion cu m of natural gas was produced compared with the target of 148.61 billion cu m.
Shri Dharmendra Pradhan, minister for petroleum and natural gas, noted decline from major producing fields, “particularly in Western offshore and onshore fields in Gujarat and northeastern region.” He also cited “no major discoveries in the recent past” and challenges in development of marginal and deepwater fields (OGJ Online, Mar. 10, 2016).