Petroleum Engineering Experts Discuss Key Issues at IIT-ISM

Dhanbad: Experts in the field of Petroleum Engineering gathered at the Department of Petroleum Engineering of IIT (ISM) to discuss crucial topics such as “Oil Field Produced Water Management” and “Open Acreage Licensing Policy and Bidding Program.”

The event, which took place on Thursday, featured two guest lectures by eminent experts. Shyamal Bhattacharya, an Independent Reservoir Management and Oil & Gas Field Development Consultant, and Director of Josler Hydrocarbons India Pvt Ltd, delivered a lecture on Oil Field Produced Water Management.

He highlighted the challenge posed by unwanted saltwater produced during oil extraction, emphasizing the need for effective management for environmental protection and responsible oilfield production.

Rakesh Godawat, AVP C&G and Reservoir at Sun Petrochemicals Pvt Ltd, gave an overview of Open Acreage Licensing Policy (OALP) and Hydrocarbon Exploration and Licensing Policy (HELP). He explained that these policies, introduced in 2016, streamline the bidding process for Hydrocarbon Exploration and Production, offering investors more choice and flexibility.

The Open Acreage Licensing Policy (OALP) aims to accelerate exploration and production activities of hydrocarbons in India. It allows companies to undertake prospecting for fuels in areas not notified by the Government of India, promoting efficient resource allocation and accessibility.

The Hydrocarbon Exploration and Licensing Policy (HELP) replaced the New Exploration and Licensing Policy, offering simpler rules, tax breaks, and pricing and marketing freedom.

The event was organized by the SPE IIT-ISM Student Chapter, and was attended by faculty members, research scholars, and students.

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