A significant crude oil reserve has been discovered in Ballia, Uttar Pradesh, on land owned by the family of freedom fighter Chittu Pandey.
1. Discovery:
The Oil and Natural Gas Corporation (ONGC) confirmed the presence of crude oil after a three-month survey in the Ganga basin.
2. Land Lease:
ONGC has leased six-and-a-half acres from Chittu Pandey’s family for three years, paying ₹10 lakh annually.
3. Drilling Process:
The excavation requires 25,000 liters of water daily and is expected to conclude by April 2025.
If successful, additional wells will be drilled at other identified locations in the Ganga basin.
4. Economic Impact:
The discovery could transform the region’s economy, increasing land value and providing financial benefits to farmers.
About Crude Oil Reserves in India
India has significant crude oil reserves, though they are not sufficient to meet the country’s growing energy demands.
1. Proven Oil Reserves
• As of recent estimates, India has about 4.7 billion barrels of proven crude oil reserves.
• This accounts for less than 1% of the world’s total reserves.
2. Major Oil Fields in India
India’s crude oil reserves are mainly concentrated in the following regions:
Onshore Reserves
1. Rajasthan (Barmer Basin) – One of India’s largest oil-producing areas, including the Mangala, Bhagyam, and Aishwarya fields.
2. Assam (Upper Assam Basin) – The oldest oil-producing region, with fields like Digboi, Duliajan, and Sivasagar.
3. Gujarat (Cambay Basin) – Includes Ankleshwar, Kalol, and Mehsana fields.
• India imports over 85% of its crude oil to meet its demand, mainly from the Middle East, Russia, and the USA.
