Page 93 - DGH_Annual_Report

India’s Hydrocarbon Reserves & Resources 93

Figure 5.2: Resources classification framework

5.2 India’s Hydrocarbon Reserves and of gas. India’s upstream sector operates under
Resources – Facts & Figures five distinct regulatory regimes:

5.2.1 Overview Nomination

As of 1st April 2024, Indian Exploration and Production Sharing Contract (PSC)
Production (E&P) operators have reported an Open Acreage Licensing Policy (OALP)
estimated 671 Million Metric Tonnes (MMT) of
recoverable oil and 1,094 Billion Cubic Metres Discovered Small Fields (DSF)
(BCM) of recoverable gas. These figures represent
the sum of 2P reserves (Proved + Probable) and Coal Bed Methane (CBM)

2C contingent resources at the national level, in
alignment with PRMS standards. As of 1st April These regimes support both conventional
2024, the total 2P reserves at the national level and unconventional hydrocarbon resource
are estimated at 434 Million Metric Tonnes development and production.
(MMT) of oil and 643 Billion Cubic Metres (BCM) Fields under the Nomination regime, operated by
of natural gas, while the total 2C contingent Oil and Natural Gas Corporation Ltd. (ONGC) and
resources stand at 237 MMT of oil and 451 BCM Oil India Limited (OIL), contribute significantly to