Oil exploration may be a game of gamble, they say. After years of exploration in the Himalayan region, the oil major ONGC is yet to strike gold in the highly fragile mountainous region despite drilling in several areas like Jammu and Himachal Pradesh.
But ONGC experts now say that India may be sitting on huge oil and gas reserves on the 100 km long Bhimbargali-Naushera border belt in Jammu and Kashmir for which the oil exploration has become a major challenge owing to security reasons. “We have conducted studies where there are chances that oil and gas can be found in the vast borders with Pakistan in the Bhimbargali-Naushera belt in Poonch and Rajauri districts,” said top ONGC officials.
ONGC has not been able to carry out drilling in this belt owing to growing tension between India and Pakistan. Pakistani troops had been firing regularly on Indian positions in these areas. On the other hand, Pakistan has found more than 50 oil wells across the border. “If Pakistan can discover lots of oil and gas across the border why can’t India also discover hydrocarbons in these areas which are very close to the borders,” asked another ONGC official.
However, ONGC officials said the oil company is of the view that the centre should change its policy of allotting oil blocks in this area and instead go for auction. “We can buy these blocks through auction and carry out our drilling with the help of the army,” said a top ONGC official. Under the oil policy, the centre allocates blocks to oil companies through a bidding process.
On the other hand, ONGC had been carrying out drilling regularly in Jammu and Himachal Pradesh where it has not been able to strike any gas or oil. Recently, ONGC drilled 5000 meter deep at Kasauli block in Himachal Pradesh. After Kasuali, ONGC is now set to take up oil drilling in one more block in Jawalamukhi area in Himachal shortly. ONGC spends around Rs 100 crore for drilling one oil block.
When contacted, ONGC Director (Exploration) N K Verma confirmed that ONGC’s studies show that there are chances of oil and gas in Bhimbargali-Naushera belt in Jammu and Kashmir.
Source: BS
But ONGC experts now say that India may be sitting on huge oil and gas reserves on the 100 km long Bhimbargali-Naushera border belt in Jammu and Kashmir for which the oil exploration has become a major challenge owing to security reasons. “We have conducted studies where there are chances that oil and gas can be found in the vast borders with Pakistan in the Bhimbargali-Naushera belt in Poonch and Rajauri districts,” said top ONGC officials.
ONGC has not been able to carry out drilling in this belt owing to growing tension between India and Pakistan. Pakistani troops had been firing regularly on Indian positions in these areas. On the other hand, Pakistan has found more than 50 oil wells across the border. “If Pakistan can discover lots of oil and gas across the border why can’t India also discover hydrocarbons in these areas which are very close to the borders,” asked another ONGC official.
However, ONGC officials said the oil company is of the view that the centre should change its policy of allotting oil blocks in this area and instead go for auction. “We can buy these blocks through auction and carry out our drilling with the help of the army,” said a top ONGC official. Under the oil policy, the centre allocates blocks to oil companies through a bidding process.
On the other hand, ONGC had been carrying out drilling regularly in Jammu and Himachal Pradesh where it has not been able to strike any gas or oil. Recently, ONGC drilled 5000 meter deep at Kasauli block in Himachal Pradesh. After Kasuali, ONGC is now set to take up oil drilling in one more block in Jawalamukhi area in Himachal shortly. ONGC spends around Rs 100 crore for drilling one oil block.
When contacted, ONGC Director (Exploration) N K Verma confirmed that ONGC’s studies show that there are chances of oil and gas in Bhimbargali-Naushera belt in Jammu and Kashmir.
Source: BS
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