Oil India is confident of achieving its crude oil production target of 4 million metric tonnes (MMT) in the current fiscal, with output expected to rise further in the succeeding years, company officials said during an analyst call on Friday.<\/p>\n
\u201cThe point is that we are on a path to four and are very confident that we will achieve [the same] this year. Our internal targets are a little bit more, but we are targeting four and are on that path,\u201d officials said.<\/p>\n
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<\/div>\n<\/div>\n<\/div>\nThe state-owned oil and gas explorer is also expecting a modest increase in natural gas production this fiscal. However, a more significant boost is anticipated following the commissioning of the Duliajan feeder line in about 18-20 months.<\/p>\n
Meanwhile, Numaligarh Refinery, a material subsidiary of Oil India, is targeting capital expenditure of \u20b96,000 crore in the next fiscal as it moves towards completing its ongoing projects.<\/p>\n
For the current fiscal, the refinery is on track to achieve its capex target of \u20b97,500 crore.<\/p>\n<\/div>\n