New Delhi [India], Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri has praised Oil India Limited (OIL) for its excellent performance in the last two years.
Maharatna Central Public Sector Enterprise (CPSE) OIL has achieved unprecedented growth and set a new record in crude oil and natural gas production during the financial year 2023-24.
The Minister stressed the important role of India's energy sector institutions in moving towards energy self-reliance under the leadership of Prime Minister Narendra Modi.
Puri posted on Twitter, "Reviewed the performance and future strategy of @OilIndia Ltd with the senior management of the Maharatna CPSE which has registered a CAGR of @ 27% in the last 2 years and the highest crude oil production of 6.53 MMTOE during this period. and achieved natural gas production." Financial year 2023-24.India's energy sector entities are taking forward our journey towards energy self-reliance under the dynamic leadership of PM @narendramodiJi. OIL officials also assured me that the company will intensify exploration to enhance import substitution through increased domestic oil and gas production and portfolio diversification plans to evolve as an integrated energy company, @PetroleumMin@ "PIB_India"
Minister Puri highlighted OIL's impressive compound annual growth rate (CAGR) of 27 per cent over the last two years, which has positioned the company to achieve its highest ever production level of 6.53 million metric tonnes of oil equivalent (MMTOE) in FY2023. has prompted. 24.
This remarkable achievement underlines the company's important role in enhancing India's energy security and reducing dependence on energy imports.In a meeting with the senior management of OIL, company officials assured Minister Puri of their commitment to intensify exploration activities.
This strategic focus aims to boost domestic oil and gas production, which is important to replace imports and achieve greater energy self-sufficiency.
The company plans to increase its exploration efforts, especially in untapped and challenging areas, to discover new reserves and increase production capacity.
Maharatna Central Public Sector Enterprise (CPSE) OIL has achieved unprecedented growth and set a new record in crude oil and natural gas production during the financial year 2023-24.
The Minister stressed the important role of India's energy sector institutions in moving towards energy self-reliance under the leadership of Prime Minister Narendra Modi.
Puri posted on Twitter, "Reviewed the performance and future strategy of @OilIndia Ltd with the senior management of the Maharatna CPSE which has registered a CAGR of @ 27% in the last 2 years and the highest crude oil production of 6.53 MMTOE during this period. and achieved natural gas production." Financial year 2023-24.India's energy sector entities are taking forward our journey towards energy self-reliance under the dynamic leadership of PM @narendramodiJi. OIL officials also assured me that the company will intensify exploration to enhance import substitution through increased domestic oil and gas production and portfolio diversification plans to evolve as an integrated energy company, @PetroleumMin@ "PIB_India"
Minister Puri highlighted OIL's impressive compound annual growth rate (CAGR) of 27 per cent over the last two years, which has positioned the company to achieve its highest ever production level of 6.53 million metric tonnes of oil equivalent (MMTOE) in FY2023. has prompted. 24.
This remarkable achievement underlines the company's important role in enhancing India's energy security and reducing dependence on energy imports.In a meeting with the senior management of OIL, company officials assured Minister Puri of their commitment to intensify exploration activities.
This strategic focus aims to boost domestic oil and gas production, which is important to replace imports and achieve greater energy self-sufficiency.
The company plans to increase its exploration efforts, especially in untapped and challenging areas, to discover new reserves and increase production capacity.
