Alliances Acquisition of overseas exploration blocks and oil & gas properties is a strategic focus area of OIL. In alliance with various Indian oil and gas PSUs and reputed international oil and gas companies, OIL is actively pursuing opportunities to acquire producing E&P assets, exploration acreages, etc. in Africa, Middle East, South East Asia, South America, CIS countries and Russia, and is willing to associate with reputed companies to jointly fulfill this objective. The Company’s overseas E & P portfolio as on 31st March 2021 is spread over 08 countries covering Russia, USA, Venezuela, Mozambique, Nigeria, Bangladesh, Libya and Gabon. The portfolio includes 5 (five) producing assets spread across Russia, USA & Venezuela, 2 (two) discovered and development assets in Mozambique and Nigeria and 4 (four) exploratory assets in Libya, Gabon, and Bangladesh.
International Asset Overview
The oil & gas reserves position (as on 31.03.2021) of 06 (Six) overseas producing and discovered assets (Company's Proportionate Share) viz. Niobrara Shale Oil (USA), License-61 (Russia), Vankorneft (Russia), TaasYuryakh (Russia), Carabobo (Venezuela) and Area-1 (Mozambique) are as under:
Particulars | 1P | 2P | 3P |
Oil+Condensate (MMT) |
13.4076 |
32.5406 |
53.1424 |
Gas Reserves (MMTOE) |
13.2647 |
21.8506 |
25.9646 |
O+OEG (MMTOE) |
26.6724 |
54.3912 |
79.1071 |
During 2020-21, production from overseas assets corresponding to OIL’s participating Interest in these assets stood at 2.10 MMTOE.