Reliance Industries quarterly consolidated revenue at Rs 2.58 lakh crore for Q2
Reliance Industries Limited (RIL) reported quarterly consolidated revenue at Rs 2.58 lakh crore for Q2 FY25.
State-owned Oil India Ltd (OIL) has resumed its operations off the Andaman Islands after almost three decades, an official said on Friday.
An OIL official said that India’s 2nd largest national ‘Navratna’ company, in terms of total proved plus probable oil and natural gas reserves, has kick-started its offshore operations in Andaman’s shallow waters with the deployment of a state-of-the-art multi-purpose seismic data acquisition vessel “SW Vespucci”.
Seismic surveys are generally conducted ahead of the oil and gas exploration activity.
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Another state-owned exploration major, Oil and Natural Gas Corporation Ltd, had drilled six wells off the Andaman shores during 2013-14 fiscal without business success or production.
“On the onshore front, OIL was the first company to commence 2D and 3D seismic data acquisition in any onshore block in the country and also the first company to complete the committed seismic work programme in an onshore block. This is in line with the vision of thhe Prime Minister’s ‘Atmanirbhar Bharat’ by enhancing domestic exploration and production and reducing dependence on imports,” the official said.
He said that the data acquisition in Mahanadi blocks in Odisha would begin soon and the exploration drilling campaign would commence during 2021-22. The official said that the OIL was awarded 21 blocks spread over Assam and Assam’s Arakan basin, Rajasthan, Mahanadi onland, Andaman and Kerala-Konkan Offshore basins.
“Through this process, the company has consolidated its position as the leading operator in northeast with a total acreage area of 17,000 sq km. The company is expecting two more blocks in Assam which would take the acreage position of OIL in northeast region to over 20,000 sq km.
“Apart from consolidating its position in northeast and Rajasthan, OIL has made conscious efforts to carry out exploration in Category II and III sedimentary basins in line with the government’s thrust for exploration,” the official said.
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