05 August 2016 Current Affairs: The first technology meet under the Hydrocarbon Vision 2030 for Northeast India and deliberate various issues regarding implementation of the document which envisages an investment of Rs 1,30,000 crore.
The meet will be a stepping stone to put the north-east region on top of Indian energy map by utilising its hydrocarbon potential in line with the Hydrocarbon Vision 2030.
Experts from different PSUs and private sector oil firms will attend the two-day technology meet.
All major operators, including ONGC, OIL, GeoEnpro, Jubilant, Hindustan Oil Exploration Company, ACIL along with global service providers like Schlumberger, Weatherford, Halliburton, Baker Hughes and Al Mansoori among others will participate in the meet.
Senior officials of the Directorate General of Hydrocarbon are also likely to attend the meet.
The Technology Meet is an initiative of the sub- committee of the upstream sector led by ONGC and has members from upstream national oil companies as well as private companies.
The upstream sector of oil industry is responsible for exploration and production of hydrocarbon from sub-surface reservoirs. Hence the meet is expected to go a long way in meeting the targets of the ambitious Hydrocarbon Vision 2030 for Northeast India.
The upstream companies will present the technical challenges before them for sustaining and increasing oil and gas production in the northeast, while service providers will offer technologies suitable for the region.
Under the Hydrocarbon Vision 2030 for the northeast, oil and natural gas output from the region will be doubled besides ramping up refining capacity entailing an investment of Rs 1,30,000 crore over the next 15 years.
Out of this, Rs 80,000 crore will be required for upstream activities of existing and new oil and gas blocks for exploration, while Rs 20,000 crore will be needed for midstream actions, including setting up of four new natural gas pipelines, five new POL product pipelines and three new LPG pipelines.
In the downstream area, three existing refineries will be expanded, a new bio-refinery will be set up at Numaligarh and CGD network will be developed across the region at a total investment of Rs 30,000 crore by 2030.