Bhubaneswar: Oil India Limited (OIL) today launched a Rs 220 crore seismic campaign to locate oil and gas in the Mahanadi basin in Odisha.
Union Petroleum & Natural Gas Minister Dharmendra Pradhan inaugurated the seismic survey campaign at Kakatpur in Puri district in the Mahanadi basin and adjoining areas through video conferencing from New Delhi.
Speaking on the occasion Pradhan said that State-owned OIL will be undertaking an extensive exploratory drilling campaign for hydrocarbon exploration in five blocks spread over in eight districts-Puri, Khordha, Cuttack, Jagatsinghpur, Kendrapara, Jajpur, Bhadrak and Balasore under the Open Acreage Licensing Policy (OALP) in five blocks spread over in eight districts of the State.
While the total envisaged expenditure on the exploration campaign is Rs 1,248 crore, Rs 220 crore is for seismic survey, he added.
Pradhan informed that OIL in the third round of OALP for oil and gas exploration in the first phase launched survey from today in 3,000 sq km for Odisha’s five blocks.
The Union Minister stated that if the exploration launched by OIL is successful then commercial production of oil and gas in the Mahanadi basin and adjoining areas will be a game-changer in Odisha’s socio-economic development and usher in a new chapter in the State’s economy.
In addition to that Odisha will be a leading region in the energy, LNG, petroleum, and gas sector, he added.