NEW DELHI: State-owned Oil India Ltd plans to speculate Rs 25,000 crore in clear power initiatives to assist obtain the web zero carbon emission aim by 2040, its chairman Ranjit Rath stated on Saturday. OIL’s internet zero plan features a mixture of reducing down the flaring of fuel and commercialisation of stranded fuel in addition to organising renewable electrical energy technology capability, constructing inexperienced hydrogen vegetation and setting up biogas and ethanol vegetation.
The online zero plans will go alongside its goal to boost crude oil and pure fuel manufacturing to 9 million tonnes of oil and oil equal fuel by 2025-26 from 6.5 million tonnes produced within the fiscal yr ended March 31, 2024, he informed reporters right here.
The corporate additionally plans to put an 80-kilometer pipeline to carry pure fuel from fields in Arunachal Pradesh to Assam to assist exchange polluting liquid fuels in transport in addition to industries.
“Reaching a internet zero goal entails a bouquet of actions,” he stated.
It already has firmed up plans for 640 MW of photo voltaic initiatives in Assam and one other 150 MW in Himachal Pradesh, he stated.
OIL joins fellow state-owned corporations who’re investing billions of {dollars} to assist India as a nation obtain internet zero emission by 2070.
Indian Oil Company (IOC), the nation’s largest oil agency, is concentrating on internet zero by 2046 whereas oil and fuel producer ONGC has introduced Rs 2 lakh crore funding to realize the identical aim by 2038.
Bharat Petroleum Company Ltd (BPCL) and fuel utility GAIL (India) Ltd too are concentrating on 2040 to realize internet zero carbon emissions from their operations whereas Hindustan Petroleum Company Ltd (HPCL) desires to take action by 2046.
Rath stated OIL is drilling extra wells and intensifying exploration in a bid to boost crude oil manufacturing to over 4 million tonnes and fuel output to five billion cubic metres.
“Final yr we drilled 61 wells and the yr earlier than that 45 wells. This yr’s drilling plan is for 75-plus wells,” he stated.
Whereas drilling extra wells will reverse the 12 per cent decline in manufacturing that has set within the mature fields, the corporate can be rising exploration to faucet newer reservoirs in addition to utilizing know-how to extend output from present fields.
On its subsidiary Numaligarh refinery in Assam, Rath stated enlargement of capability, from present 3 million tonnes every year to 9 million tonnes at an estimated price of Rs 28,000 crore, is deliberate to be accomplished by December 2025.
The online zero plans will go alongside its goal to boost crude oil and pure fuel manufacturing to 9 million tonnes of oil and oil equal fuel by 2025-26 from 6.5 million tonnes produced within the fiscal yr ended March 31, 2024, he informed reporters right here.
The corporate additionally plans to put an 80-kilometer pipeline to carry pure fuel from fields in Arunachal Pradesh to Assam to assist exchange polluting liquid fuels in transport in addition to industries.
“Reaching a internet zero goal entails a bouquet of actions,” he stated.
It already has firmed up plans for 640 MW of photo voltaic initiatives in Assam and one other 150 MW in Himachal Pradesh, he stated.
OIL joins fellow state-owned corporations who’re investing billions of {dollars} to assist India as a nation obtain internet zero emission by 2070.
Indian Oil Company (IOC), the nation’s largest oil agency, is concentrating on internet zero by 2046 whereas oil and fuel producer ONGC has introduced Rs 2 lakh crore funding to realize the identical aim by 2038.
Bharat Petroleum Company Ltd (BPCL) and fuel utility GAIL (India) Ltd too are concentrating on 2040 to realize internet zero carbon emissions from their operations whereas Hindustan Petroleum Company Ltd (HPCL) desires to take action by 2046.
Rath stated OIL is drilling extra wells and intensifying exploration in a bid to boost crude oil manufacturing to over 4 million tonnes and fuel output to five billion cubic metres.
“Final yr we drilled 61 wells and the yr earlier than that 45 wells. This yr’s drilling plan is for 75-plus wells,” he stated.
Whereas drilling extra wells will reverse the 12 per cent decline in manufacturing that has set within the mature fields, the corporate can be rising exploration to faucet newer reservoirs in addition to utilizing know-how to extend output from present fields.
On its subsidiary Numaligarh refinery in Assam, Rath stated enlargement of capability, from present 3 million tonnes every year to 9 million tonnes at an estimated price of Rs 28,000 crore, is deliberate to be accomplished by December 2025.
