Oil India Limited will look for oil abroad

Jaisalmer, Jul 10: Oil India Limited (OIL) would now look for oil and gas wells abroad and would bring the oil to India, thus increasing its total productivity here.

This was stated by Oil India's Chairman-cum-Managing director M R Pasricha, who is here on a tour of Jaisalmer district.

Presently, Oil India produces 3.2 million tonnes of oil every year.

It has been decided to increase the productivity to 3.5 million tonnes every year.

Mr Pasricha said the company is not satisfied with this target as 3.5 million tonnes will be produced from the north-western block alone but the need is production of more oil.

In view of the increasing demands, Oil India has decided to expand by going abroad. The company is considering deals with countries for production of oil and gas in those blocks where work is already on.

Oil India is working in two blocks in Libya from 2005 while it is hoping for a deal in Nigeria.

Mr Pasricha said Oil India has 14 blocks in the country, out of which, Oil India is working in six blocks whereas Oil and Natural Gas Commission is handling the other eight.

The aim is to increase oil production by discovering more oil wells abroad and in India. Work is on in three blocks in Rajasthan at present.

The wells in Siyasar region have been dug 1600 metre deep while the aim is to go down till 1800 metres. Mr Pasricha said it is being hoped that oil and gas is produced from these wells soon.

UNI