Key Points
New Delhi [India], September 15 (ANI): Oil India Limited Chairman and Managing Director, Ranjit Rath, said that the state-owned company is going to commence drilling activities in Andaman and Nicobar offshore waters, as part of its exploration efforts...
Asked about the volatility in crude oil prices and how Oil India looks at it, the CMD said they always are for stability as that helps plan exploration efforts..
He also added that oil prices are something which is governed by a variety of factors, including geopolitics...
We would like to see that there is a stability in terms of the oil prices because that helps us to plan our exploration efforts and that also helps us having a line of sight in terms of our efforts towards offshore exploration as we have already taken a leap of faith and we are going to commence our drilling activities in Andaman and Nicobar offshore waters, he told ANI after the company held its Annual General Meeting on Sunday...
In 2023-24, the state-owned companys saw 5.5 per cent to 6 per cent growth in terms of oil and gas production, the CMD said.. And that actually happened on the ride of 61 number of drilling, that is highest ever, 228 number of workovers, that is highest ever..
