110 MILLION TONS OF HYDROCARBONS PER YEAR BY 2000 AD

The authors have analysed the present status of the country's oil and natural gas reserve estimates and production profile since 1978. A sce nario projecting a yearly production target of 65 million tonnes of oi l and 50 billion cubic meters of gas amounting to 110 million tonnes o f oil and oil equivalent of gas by the year 2000 A.D. has been present ed. These targets can be achieved if a national commitment is made and actions taken accordingly. Oil and Natural Gas Commission (ONGC) and Oil India Limited (OIL) have done exceedingly well in the past. In the present situation they have to be more transparent in their operation s, receptive to national and international perceptions and prescriptio ns to accelerate oil/gas exploration and production programmes. The in ternationally acknowledged new technologies have to be introduced to a ugment exploration and production efforts. Ways and means have to be d evised to attract risk capital and development capital from within and outside the country.