Hydrocarbon Resources Current Affairs - 2020

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India to attend GFSEC ministerial meeting

Minister of Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan is to visit Russia and Japan between October 22 and October 26 2019. This is a follow up visit of PM Modi for the Eastern Economic Forum in September 2019.

Highlights of the visit

  • The Minister will meet Russian Ministers for Development of Russian Far East and Arctic, ship building complexes.
  • The Minister is looking forward for collaboration in sectors like coking coal and discussions on shipping routes.
  • The Minister will also sign MoUs to strengthen symbolic bilateral energy cooperation.
  • He will participate in the Global Forum on Steel Excess Capacity Ministerial Meeting

GFSEC ministerial meeting

The GFSEC Ministerial meeting is to be held in Tokyo, Japan between October 25 and October 26 2019. The meeting will involve policy discussions.

The GFSEC meeting was formally established in December, 2016 in Berlin. The meeting brings together all the G20 members and the OECD members. The meeting represents 90% of global steel production.

India in Russia and Japan

ONGC has recently joined Sakhalin-1 consortium. It has so far acquired 20% participation in the project. It is the largest foreign direct investment by any country in any project in Russia. Sakhalin in a consortium for production of oil and gas on Sakhalin island in Russia in Okhotsk sea. It holds six of the world’s 10 record-setting extended reach drilling wells.

The Agreement between EIL and Russian National Chamber of Engineers strengthens bilateral energy cooperation in the hydrocarbon exploration in Russia

There are a lot of synergies between India and Japan. India is collaborating on a big scale with Japan in the LNG sector.

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Petroleum Ministry sets up National Data Repository

Union Ministry of Petroleum and Natural Gas (MoPNG) has set up state of-the-art National Data Repository which is database of all geo-scientific data of hydrocarbon resources in the country. It is equipped with cutting-edge technology and will provide ready access to interested companies. With this, India has joined league of countries like UK and Norway which have National Data Repository for the upstream sector.

National Data Repository (NDR)

It is integrated data repository of Exploration and Production (E&P) data of Indian sedimentary basins. Its main objective is to provide reliable exploration and production data for India with provisions for seamless access and online data management.

It is hosted at Noida based Directorate General of Hydrocarbons (DGH), the technical arm of MoPNG. It offers unique platform to all E&P Operators, E&P Investors, E&P Service Companies and Academia to delve inside diverse E&P datasets of Indian sedimentary basins.

Key goals of NDR

  • Validate, store, maintain and reproduce high quality and reliable geoscientific data.
  • Facilitate efficient data reporting, data exchange and data trading among existing players including all geoscientific agencies.
  • Improve DGH’s ability to monitor and control the exploration and production activities and reporting.
  • Encourage new exploration and production activities by providing high quality and reliable data.
  • Strengthen overall geoscientific activities in India.
  • Support an open acreage system for an improved global exploration and production business environment in India.
  • Provide quality E & P data for processing, interpretation and visualization centres at DGH.

Benefits of NDR

  • It will primarily safeguard national exploration and production data asset.
  • It will help and promote exploration and production activities in India.
  • It will store and maintain hydrocarbon exploration and production data in safe and reusable manner, in perpetuity.
  • The data under will be preserved in accordance with generally accepted NDR standards and made available to entitled users.
  • It will enhance prospects of petroleum exploration and facilitate bidding rounds by improving availability of quality data.

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