India’s crude oil output may jump by 21% in 2013-14: S Jaipal Reddy

NEW DELHI: India’s crude oil production is likely to jump by 21% to 45.57 million tonnes in 2013-14 vis-a-vis 2010-11 on the back of output from newer fields like the Rajasthan block of Cairn India, oil minister S Jaipal Reddy said on Thursday.

The nation produced 37.68 MT of crude oil in 2010-11, which is expected to rise to 38.18 MT during the current fiscal, he said in a written reply to a question in the Lok Sabha here.

The output is expected to rise further to 42.30 MT in 2012-13 and to 45.57 MT in 2013-14, he said. India is reliant on imports to meet 79% of its crude oil needs. The biggest contributor is likely to be Cairn India, whose Rajasthan block is currently producing 125,000 barrels of crude per day, or 6.25 MT a year.

The block is projected to produce 240,000 bpd, or 12 MT, by 2013-14. Reddy said natural gas production will rise by 18% to 61.652 billion cubic metres by 2013-14 from 52.221 bcm in 2010-11.

Gas production is expected to drop to 51.671 bcm this fiscal on account of lower output from Reliance Industries’ eastern offshore KG-D6 fields. However, it will recover to 52.276 bcm in 2012-13.

The increase in capacity would primarily come from the 15 MT a year refinery IOC is building at Paradip, in Orissa, and the soon-to-be- commissioned, 9 MT per annum Bhatinda unit being set up by a joint venture between HPCL and steel baron Lakhsmi Mittal.