Total Size of Enhanced Oil Recovery Market in India

According to the 2010 BP Statistical Energy Survey, India has proven oil reserves of 5.82 billion barrels at the end of 2009 or 0.43 % of the world's reserves.

According to Oil & Gas Journal (OGJ), India had approximately 5.6 billion barrels of proven oil reserves as of January 2010, the second-largest amount in the Asia-Pacific region after China. Indias crude oil reserves tend to be light and sweet, with specific gravity varying from 38° API in the offshore Mumbai High field to 32° API at other onshore basins.

India produced roughly 880 thousand barrels per day (bbl/d) of total oil in 2009 from over 3,600 operating oil wells. Approximately 680 thousand bbl/d was crude oil; the remainder was other liquids and refinery gain. In 2009, India consumed nearly 3 million bbl/d, making it the fourth largest consumer of oil in the world. EIA expects approximately 100 thousand bbl/d annual consumption growth through 2011. Almost about 12,000 wells are either redundant or marginally producing. The statistics mentioned above do not include production from such wells The Indian Government has awarded 90 oil and gas blocks, both offshore and onshore, since 1999 to companies via international competitive bidding under four rounds of New Exploration Licensing Policy (NELP) to shore up static domestic petroleum output.

The data sourced from the Government of India - MOPNG illustrates the vigorous developmental activity in this sector.