Oil India Limited plans to drill in Andaman and Nicobar offshore waters for oil and gas production.

Oil India Limited (OIL) plans to start drilling in the Andaman and Nicobar offshore waters, as announced by Chairman Ranjit Rath. He highlighted the need for stable oil prices for effective exploration planning, noting that geopolitical factors impact prices. OIL projects a 5.5% to 6% growth in oil and gas production for 2023-24, with plans to produce 4 million metric tons of crude oil and 5 billion cubic meters of natural gas, while aiming for net-zero emissions by 2040.

September 15, 2024
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