March 19, 2002

    During the period March 1998 to December 2001, exploratory wells were drilled by National Oil Companies and Private/Joint Venture Operators in the States of Andhra Pradesh, Assam, Gujarat, Rajasthan and Tamil Nadu also in the Mumbai Offshore, Cambay Offshore and Krishna-Godavari Offshore areas. As on 1.4.2001, the total quantity of ultimate reserve of oil assessed for new finds is of the order of 8.74 Million Metric Tonnes.

    The total expenditure on exploration during the period March 1998 to December, 2001 was about Rs. 7735 crore.

    This information was given by Shri Santosh Gangwar, Minister of State for Petroleum & Natural Gas, in a written reply to a question in Rajya Sabha today.