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India to see investment worth $58 bn in 2023 as Chevron, Total keen: Hardeep Puri
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IANS | 13 Jan, 2023
Petroleum Minister Hardeep Puri on Friday said that India is likely to
witness an investment worth around $58 billion in 2023 in oil and gas
exploration, as major energy entities like Chevron Corp, ExxonMobil, and
TotalEnergies have shown interest.
Addressing the Voice
of Global South summit, he said that the government is expecting an
investment of around $58 billion in exploration and production (of oil
and gas) by this year as many companies like Chevron, ExxonMobil, and
TotalEnergies are interested in investing in the country's exploration
and production sector.
India is keen to enhance its domestic
output in order to reduce dependence on imports. It imports 85 per cent
of crude oil, which is converted into petrol and diesel.
Puri
further said that the government aims to increase the geographical area
under exploration and production to 0.5 million square kilometres or 15
per cent by 2025 from the current 0.25 million sq km
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