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Thursday, September 14

Cabinet given nod to survey on India’s Un-appraised Areas of Sedimentary Basins

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TNPSC Current Affairs - September 2017 by TNPSC Guru

 Union Cabinet committee on Economic Affairs has given its nod to survey on India’s un-appraised area of sedimentary basins with the project  cost of Rs 2,932.99 crore.

The project will be implemented by National Oil Companies like Oil India Limited (OIL) and Oil and Natural Gas Corporation (ONGC). The Project will conduct survey of 48,243 Line Kilometre (LKM) of 2D seismic data of the country’s sedimentary basins for which less data is available.

It will help to enhance the investments in domestic production of Oil and Gas.

Significance of Project: 
  • India has 26 Sedimentary basins with an area of 3.14 million spread over land, shallow water and deep water.
  • In this 48 % of sedimentary basins area does not have enough geo-scientific data.
  • so this project will help us to know about the initial insight into the basins and helps in future exploration and production.
  • The project is likely to be completed by 2019-20 and it will be monitor by Directorate General of Hydrocarbon.
  • This project is also likely to generate direct as well as indirect employment for about 11,000 people .

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