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Oil India all set to begin its exploration for oil and gas in the Andaman Sea

Oil India all set to begin its exploration for oil and gas in the Andaman Sea

Oil India Ltd (OIL), the nation's second-biggest state-owned oil producer, has stated that it has started exploring for oil and gas in the Andaman Sea in a recent press meet. The firm has deployed a state-of-the-art multi-purpose seismic data acquisition vessel 'SW Vespucci' to acquire 8,400 line-kilometers of 2D seismic data. The exploration efforts in Andaman offshore are being resumed after a long period.

OIL Chairman and Managing Director Sushil Chandra Mishra stated that the "company has drawn up plans to intensify its exploration efforts in the country and increase exploration CAPEX in the coming years. The company has been actively participating in the OALP rounds in an endeavor to intensify exploration and is expecting two more blocks under OALP-V in the state of Assam."

OIL was the first company to commence 2D and 3D seismic data acquisition in any onshore open acreage licensing policy (OALP) block in the country. It was in line with the Prime Minister's vision for an Aatmanirbhar Bharat by raising domestic exploration and production to cut dependence on imports for oil and gas needs. It is also the first company to complete the committed seismic work program in an onshore OLAP block.


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