India has 49% more than earlier estimated oil and gas reserves, says report

Current estimate pegs reserves at 42 bn tonnes against 28.09 bn tonnes projected in 1996

India has 42 billion tonnes of oil equivalent (BTOE) reserves, according to a new assessment, done after 22 years.

The Mumbai Offshore and Krishna-Godavari basins will continue to hold the key to the country’s energy future with the maximum reserves. 

The current estimate is 49 per cent higher than the last assessment, which projected, in 1996, around 28.09 BTOE in 15 sedimentary basins including onshore, shallow water and deep-water areas.

The current report by the Directorate General of Hydrocarbons (DGH) is based on in-place resources, around 41.872 BTOE, in 26 sedimentary basins.

Of this, around 29.796 billion tonnes are undiscovered hydrocarbons while the share