ONGC at present has mining (production) licence on about 56,000 square kilometers and exploration licence on the remaining part of the total 90,000 square kilometers of acreage. To aid the proposed reduction in import dependence, the government is adding bio fuels into the energy mix, besides taking energy efficiency measures. It expects a 10% increase in gas production in 2017-18, up from 23 billion cubic metres produced in 2016-17. Sarraf said that the relief has been sought to make gas production from these fields financially viable and that it is being considered favourably. “For the ten percentage point reduction in import dependence, we need government support,” another official said on condition of anonymity.

Source: Mint May 28, 2017 18:11 UTC