CorporateOil prod by PSUs fall in recent years: Prasada
Petroleum PSUs have not made any significant new find in oil and gas reserves in recent years, Minister of State for Petroleum Jitin Prasada told the Lok Sabha today.
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He said oil production by PSUs has fallen between 2004 and 2009 and new techniques were being utilised to improve extraction of crude from reserves.
Answering supplementaries during Question Hour, Prasada said most of the blocks being operated by PSUs are at least 15 years old and Bombay High reserve is 30 years old.
The steps taken ONGC and OIL to boost production include application of Enhanced Oil Recovery/Improved Oil Recovery techniques for increasing recovery factor from existing fields, he said.
The House witnessed some heated moments when Jagdish Sharma (JD-U) and Anant Kumar Hegde (BJP) contended that the minister"s reply was not satisfactory and sought protection from the Chair.
Prasada said ONGC had struck oil in one block but it was in deep waters and the PSU did not have the technology to extract oil. He assured the House that the PSU would acquire the technology to exploit the reserve.