Assocham wants govt to help oil cos in getting rigs
Government can partly keep crude import bill and prices under control by supporting oil companies in acquiring rigs for exploration of domestic hydrocarbon sources, industry body Assocham said.
By PTI |
NEW DELHI: Government can partly keep crude import bill and prices under control by supporting oil companies in acquiring rigs for exploration of domestic hydrocarbon sources, industry body Assocham said.
"The availability of rigs should be created with government efforts and oil production companies be given free hand to order chartering of rigs from their manufacturers even without little intervention as one day operational costs for a rig works out to be nearly 1,40,000 dollar," said the chamber adding that India's dependence on oil import would reach up to 90 per cent by 2010.
Currently, 70 per cent of India's petroleum, oil and lubricant requirements are met through imports which might go up to 90 per cent by 2010, Assocham said in its paper on 'Indian Oil & Gas Sector: An Overview'.
If the mismatch between demand of drilling rigs and their supply and shortage of skilled personnel not addressed urgently, India's crude import would go up by 20 per cent.
"Shortages of drilling rigs by over 60 per cent and crunch of skilled personnel of over 40 per cent will also increase the project cost by 30 per cent in the next 3-4 years," it said.
"The rigs demand have risen globally in response to relatively high energy prices and Indian exploration and production companies are feeling the pinch," Assocham President Venugopal Dhoot said in a statement here.
"The availability of rigs should be created with government efforts and oil production companies be given free hand to order chartering of rigs from their manufacturers even without little intervention as one day operational costs for a rig works out to be nearly 1,40,000 dollar," said the chamber adding that India's dependence on oil import would reach up to 90 per cent by 2010.
Currently, 70 per cent of India's petroleum, oil and lubricant requirements are met through imports which might go up to 90 per cent by 2010, Assocham said in its paper on 'Indian Oil & Gas Sector: An Overview'.
If the mismatch between demand of drilling rigs and their supply and shortage of skilled personnel not addressed urgently, India's crude import would go up by 20 per cent.
"Shortages of drilling rigs by over 60 per cent and crunch of skilled personnel of over 40 per cent will also increase the project cost by 30 per cent in the next 3-4 years," it said.
"The rigs demand have risen globally in response to relatively high energy prices and Indian exploration and production companies are feeling the pinch," Assocham President Venugopal Dhoot said in a statement here.
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