India received 2 lakh crore-liter oil-store in Andaman: Petroleum Minister said-India’s GDP can increase to $ 20 trillion.

India can get a stock of about 2 lakh crore liters of crude oil in the Andaman Sea. This was said by Union Minister of Petroleum and Natural Gas Hardeep Singh Puri. Hardeep Singh said that if this estimate comes out correct, then India’s GDP can increase by about 5 times.

Hardeep Singh Puri said that this large reserves of raw oil and gas have been shown in the Andaman Sea and the government has started preparations to remove it. It is believed that after getting it, our energy needs will be met in one stroke.

The minister said that this petroleum store can recently found in Guyana (11.6 billion barrels) raw oil reserves. If this estimate in search and research is correct, then India’s GDP can increase from $ 3.7 trillion to $ 20 trillion in one stroke.

Companies like ONGC started survey and drilling work

Hardeep Singh Puri said that the work of extracting crude oil is going on in Andaman and Nicobar Islands. Where companies like Oil India and ONGC have started survey and drilling work in search of new stores.

Government data shows that more than 85% of the country’s crude oil is obtained from international suppliers.

In FY24, ONGC dug 541 wells, which cost ₹ 37,000 crore

Puri said that it costs a lot of money to find oil drills. 43 or 46 oil wells were dug in Guyana, each of which cost $ 100 million. He found a store of crude oil in the 47th oil well.

At the same time, ONGC has dug the highest number of wells this year, the highest in 37 years. In FY 24, OGC dug 541 wells, which cost Rs 37,000 crore. This is the highest in the history of the company.

India can reduce oil imports to a great extent

If the discovery in Andaman is successful, India can reduce oil imports to a great extent and strengthen its economic condition. India is very much dependent on the import of crude oil to meet its energy needs right now.

More than 85% of the country’s crude oil meets international suppliers

Government data shows that more than 85% of the country’s crude oil is obtained from international suppliers. India is the third largest importer of crude oil after the US and China at the global level.

Current oil is extracted from places like Assam-Gujarat in India.

Currently, raw oil is extracted from Assam, Gujarat, Rajasthan, Mumbai and Krishna-Godavari basins in India. Along with raw oil reserves, India has also prepared a huge reserves of refined raw oil. This store is located in Visakhapatnam, Mangalore and Purdur. Apart from this, oil reserves are also being made in Odisha and Rajasthan.