Commending the efforts made by private players such as Reliance Industries and Cairn India towards discovering new oil and gas, the Economic Survey said it expects India to clock an increase of 11 per cent in its domestic crude oil production and 53 per cent in gas production.
India is
dependent on imports of petroleum and meets almost 75 per cent of its crude oil requirements through imports.
During 2009-10, the projected production for crude oil is 36.7 million tonnes, which is about 11 per cent higher than the actual crude oil production of 33.5 mn tonnes in 2008-09.
“This is primarily due to increase in crude oil production from Rajasthan (2.4 million tonnes by Cairn India) and the KG deepwater (0.8 million tonnes by Reliance Industries),” the Survey said.