Barmer : Refinery and petroleum production is the high level target of the state in the Rising Rajasthan Global Summit. Currently, oil production from Barmer in the state has reached 70 thousand barrels per day, preparations have been started to increase it to 3 lakh barrels per day. Keeping in mind the target of construction of the refinery in March 2025, the earlier investment of Rs 1 lakh crore will now be increased to Rs 35,000 crore to increase oil production. With this, the oil revenue of the state and the center will increase more than four times. These days the oil production from Barmer is only around 70 thousand barrels per day. Oil production is continuously decreasing after the Corona period. During the Corona period, it was one lakh barrels per day, which was reduced by ten percent under special circumstances, but even after this, from 2019 to 2024, this production has decreased instead of increasing.
This way the treasure will be filled to the brim
In case of oil production increasing from 90 thousand to one lakh barrels per day, the state is getting revenue of Rs 3000 crore annually and the Center is getting revenue of Rs 70 thousand crore annually. As soon as the production reaches 3 lakh barrels, the state will again get a share of Rs 9000 crore annually from Barmer oil and the Center will also get close to Rs 2 lakh crore.
Effort to increase recovery rate
The oil company is continuously trying to increase the recovery rate of oil. The 25 percent recovery has been increased to 40 percent with new technology to extract tight oil. Here, continuous efforts are going on in the new 10 blocks also. There is hope of finding a big discovery like Mangala. More than Rs 1 lakh crore is being invested on this.
Company’s big promise
This time the focus of Rising Rajasthan Global Summit is on petroleum, oil, energy and coal. Vedanta Group Chairperson Anil Agarwal has recently promised to increase oil production to 3 lakh barrels per day with the Chief Minister at the Rising Rajasthan Show organized in UK. In this, work will be done on tight oil recovery and shale gas.
