On November 20, 2020, the Indian Oil Corporation Ltd (IOCL), through its company statement, has notified that it successfully conducted a ‘Proof of Concept’ feasibility study on ‘zero-emission electric mobility’ at one of its fuel stations in Bengaluru, Karnataka. This study will help in promoting electric mobility in the country.
- In accordance with the study Zero-Emission Electric Mobility is a concept that allows the electric vehicle (EV) to charge using solar power and ensuring zero emissions.
Following are the key terms explained in statement:
EV Charging System:
The EV charging system has been designed by Hygge Energy, a start-up incubated by Tech Mahindra, with following three main features
- EVs are charged using solar power,
- No upgrades are required in grid infrastructure
- Grid resilience is improved by the system’s architecture, especially in remote areas
The technology in EV Charging System enables electric-vehicles to charge using “hybrid microgrids” which are created by integrating existing grid infrastructure with solar PV batteries.
- The system used artificial intelligence (AI) and the Internet of Things (IoT) to ensure that charging requirements are primarily met with renewable energy from these hybrid microgrids, thereby providing 100% clean energy e-mobility.
–OIL launches seismic survey in Mahanadi onland basin
The other oil company, Oil India Limited (OIL) launched the Rs 220 crore seismic survey programme at Kakatpur in Puri District, Odisha in the Mahanadi Basin (Onland) as a part of the National Seismic Programme (NSP). This was launched to locate oil and gas in Indian sedimentary basins.
- Notably, OIL had won five blocks for hydrocarbon exploration in Odisha in two bid rounds under Open Acreage Licensing Policy (OALP).
- The total envisaged expenditure on the entire exploration campaign in the five blocks in Mahanadi Basin (Onshore) is Rs 1,248.00 crore
- The blocks are spread in eleven districts of Odisha namely Puri, Khurda, Cuttack, Jagatsingpur, Kendrapara, Dhenkanal, Jajpur, Bhadrak, Baleshore, Maurbhanj and Keonjhar.
OIL has been awarded a total of 25 blocks, making it the second-largest winner of exploration blocks under OALP. A total of 8,215 line-km 2D and 5,884 sq km 3D seismic survey and 73 exploratory wells are planned in these 25 blocks to the tune of Rs 5,400 crores over the next three to four years.
About Open Acreage Licensing Policy (OALP):
Launched in June 2017, under OALP, a company gets an option to select the exploration blocks on its own, without waiting for the formal bid round from the Government.
- A bidder intending to explore hydrocarbons may apply to the Government seeking exploration of any new block which was not already covered by exploration.
- This policy succeeded the New Exploration and Licensing Policy (NELP) and was introduced as a part of the new fiscal regime in the exploration sector called Hydrocarbon Exploration and Licensing Policy (HELP).
Recent Related News:
i.The Cabinet Committee on Economic Affairs (CCEA) approved “Natural Gas Marketing Reforms” with an objective to formulate a standard procedure for market price discovery of natural gas by gas producers through a transparent and competitive process. This decision has been taken to increase domestic gas production by an additional 40 million standard cubic meters a day (mmscmd), from the current 80 mmscmd.
ii.On October 26, 2020, Prime Minister Narendra Modi inaugurated the 3 day 4th Edition of India Energy Forum by CERAWeek (Cambridge Energy Research Associates). CERAWeek is a global platform to understand best- practices, discuss reforms, and inform strategies for accelerating investments into Indian Oil and Gas value chain. The Theme of 2020 edition is “India’s Energy Future in a world of Change”.
About Indian Oil Corporation Ltd (IOCL):
Chairman– Shrikant Madhav Vaidya
Headquarter– New Delhi
About Oil India:
Chairman & Managing Director (CMD)– Sushil Chandra Mishra
Headquarter– Noida, Uttar Pradesh (UP)