During the session it was discussed that dependence on oil & gas imports has increased significantly due to declining domestic production. Examples of various countries highlighting targeted incentives for matured and producing fields to ramp up production was shared. Considering Indian reserves, a 1% increase in recovery factor will be equivalent to 05 months of oil production.

The speakers highlighted an important aspect of the need of management and technical people who are able to conceptualize, carry out research in laboratory and can take it from field pilot to commercial level in a short period. There should be partnerships of universities with industry in EOR pilot projects. As the EOR projects require long term commitments along with higher capital and operating expenditure, governments have a significant role to play at all levels by providing incentives, develop regulations and also to provide direct support.

Hon’ble Minister of State (I/C) for Petroleum & Natural Gas, Shri Dharmendra Pradhan was present during the concluding session of the workshop and addressed the participants. He announced that with the suggestions provided by the industry stakeholders today, EOR should be incentivized and Government will come out with a new progressive EOR policy.