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OIL IMPORT BILL

New Delhi ~ July 31, 2001

Shri Santosh Kumar Gangwar, Minister of State for Petroleum & Natural Gas informed the Rajya Sabha in a written reply today that the net oil import bill was Rs.70,353 crore during 2000-2001 as compared to Rs. 53,515 crore in 1999-2000 and Rs. 26,886 crore in 1998-99. The Minister also said that the estimated oil import bill during the current financial year is Rs. 78,673 crore. In reply to another question Shri Gangwar said that the import of crude oil was 74.097 million metric tonnes (MMT) in 2000-2001 as against 57.805 MMT in 1999-2000 and 39.808 MMT in 1998-99.

The Minister also informed that the Government has taken several steps to increase crude oil production in the country. These include implementation of Enhanced Oil Recovery (EOR)/Improved Oil Recovery (IOR) schemes from the existing major oil fields for accelerating oil production. Exploration in the deeper layers in the producing areas to add reserves and in the new areas especially in deep water and difficult frontier areas is also being undertaken. Other steps include faster development of newly discovered oil fields and to increase workover and stimulation operation. To increase exploration efforts the New Exploration Licensing Policy (NELP) has been launched and emphasis is being laid on increased use of 3-D seismic surveys in new and producing areas.

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