Scale up oil exploration

Thanks to an elephant and a British geologist, India discovered its first oil in the jungles of Assam in 1889, much before any member of OPEC could do it. But that’s history. The reality today is over 75 per cent of our sedimentary basins are yet to be categorised as “moderate-to-well explored” even as we import over 75 per cent of our oil demand by spending a whopping $134 billion during FY 2011-12.

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