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Updated On:29/03/2018
JVs / PSCs / Alliances

Keeping in perspective the Indian Government's liberalisation policy and the dismantling of the Administered Pricing Mechanism, OIL expanded its business activities both within and outside the country, adding hydrocarbon related ventures like gas based power generation to its portfolio.

DOMESTIC

In the E&P sector, in India, OIL has signed Production Sharing Contracts (PSCs) with private companies like Essar Oil, Hindustan Oil Exploration Company (HOEC), Geo Global Resources (GGR), Geo-Enpro Petroleum, Hindustan Mittal Energy Ltd (HMEL), Geo-Petrol International Inc., Shiv Vani, Assam Company India Ltd (ACIL) and Reliance Industries (RIL). Besides bidding on its own, OIL has joined ONGC, GAIL, BPRL, HPCL, NTPC, BGEPIL, APGIC, GSPCL and IOC in acquiring exploration blocks offered under New Exploration Licensing Policy (NELP) of the Government of India.



The list of PSCs, their locations and partners where OIL has participating interest or Operatorship as of March 2018:

JOINT VENTURES (as on March 2018):
Sl.No. Block No. Date of Execution Company's Participating Interest(%) Other Partners Participating Interest(%) Operator
1 Kharsang PSC 16.06.1995 40 JEPL
Geo Petrol
Geo-Enpro
25
25
10
Geo-Enpro
2 AAP-ON-94/1 30.06.1998 44.086 IOCL
HOEC
29.032
26.882
HOEC

OIL AS OPERATOR (as on March 2018):
Sl.No. Block No. Date of Execution Company's Participating Interest(%) Other Partners Participating Interest(%) Operator
1 MZ-ONN-2004/1 02.03.2007 85 Shiv-Vani 15 OIL
2 RJ-ONN-2004/2 02.03.2007 75 GGR 25 OIL
3 KG-ONN-2004/1 02.03.2007 90 GGR 10 OIL
4 AA-ONN-2010/2 28.03.2012 50 ONGCL
GAIL
30
20
OIL
5 AA-ONN-2010/3 28.03.2012 40 ONGCL
BPRL
40
20
OIL

OIL AS NON OPERATOR (as on March 2018):
Sl.No. Block No. Date of Execution Company's Participating Interest(%) Other Partners Participating Interest(%) Operator
1 WB-ONN-2005/4 22.12.2008 25 ONGCL 75 ONGCL
2 GK-OSN-2010/1 28.03.2012 30 ONGCL
GAIL
60
10
ONGCL

OIL AS NON OPERATOR in DSF Block (as on March 2018):
Sl.No. Block No. Date of Execution Company's Participating Interest(%) Other Partners Participating Interest(%) Operator
1 AA/ONDSF/KHEREM2016 RSC signed
on
27.03.2017
PML A/F
40 HOEC
PPCL
40
20
HOEC

Alliances
Acquisition of overseas exploration blocks and oil & gas properties is a strategic focus area of OIL. To facilitate this strategy, the Government of India extended the mechanism of Empowered Committee of Secretaries (ECS) for quick clearance of overseas proposals of OIL in consortium with IOC and other Public Sector Companies in December 2005.

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. In India, OIL welcomes joint venture opportunities in gas-based industries including the power sector and trunk pipeline ventures. 

OIL provided E&P consultancy for the first time since its inception to M/s Morris Petroleum, incorporated in Nigeria, towards evaluation and submission of bids for development of marginal fields offered by the Government of Nigeria through the Nigerian Petroleum Company.

OVERSEAS



Status of Libya & Gabon as on March 2018

 

    Status of Block SHAKTHI (The Block Name & Number has been changed to SHAKTHI-II (G4-245) after signing the new PSC in Jan’ 2014), Onshore Gabon, West Africa as onMarch 2018:

 

  • The block is located in the less explored interior basin towards the north-eastern part of this geo-politically stable, oil-rich country.
  • The block is adjacent to the Panocean Energy-operated producing Remboue oil field (Block ET 2000).
Current Status
A per old PSC
  • Drilled 3 wells and discovered oil in 3rd well
As per new PSC
  • Drilling of two appraisal well completed
  • 2D API of 1200 GLKM completed with the consent of DGH, Gabon
  • Phase II: Drilling of wells to be completed
Location: InteriorBasin
Area: 3761 sq km

Consortium Partners
  • OIL -50% (Operator)
  • IOCL- 50%
Past Exploration Activity
  • Aero gravity, magnetic, 2D Seismic and wells
Work Commitmentas per new PSC
  • Phase-I(16.01.2014 to 15.01.2017): 2 Appraisal Wells and 1200 GLKM closed grid 2D Seismic API
  • Phase-II(16.01.2017 to 15.01.2020): 1 Appraisal Well and 1 Exploratory Well
  • Phase-III(16.01.2020 to 15.01.2023): 1 Exploratory Well




LIBYA

Area 95/96 - Onshore Libya as on March2018:
  • This area is located in the Ghadames basin in the Southwestern part of Libya.
  • In EPSA, Bid Round IV, 2007, the Consortium of M/s SIPEX, OIL and IOC won this oil-prolific onshore block.
  • The PSC has been signed on May 25, 2008
Current Status
  • 2D Seismic (2652 GLKM) and 3D (2891 Sq. Km) survey and Interpretation of data completed.
  • Total 6 wells drilled and discovered both oil and gas in four wells. Estimated in place reserves : 80 MBBL
  • Under Force Majeure since 20th May 2014 because of socio-political unrest in the country. Was due for termination in May, 2016 as per EPSA terms.
  • NOC proposed for Interim Arrangement Agreement for extension of EPSA under Force Majeure condition for two more years till May, 2018; Agreement signed by all Parties involved.
  • Presently work is suspended under Force majeure
Location: GhadamesBasin
Area: 6934 sq km

Consortium Partners
  • SIPEX - 50% (Operator)
  • OIL - 25%
  • IOC - 25%
Past Exploration Activity
  • 2D Seismic of 1984-1996 vintage and 06 wells
Work Commitment
  • Exploration Phase –August 2015
  • 2D - 2000 lkm
  • 3D - 2600 Sq. Km.
  • Wells : 08 Nos

GABON

Block SHAKTHI, Onshore Gabon, West Africa:
  • The block is located in the less explored interior basin towards the north-eastern part of this geo-politically stable, oil-rich country.
  • The block is adjacent to the Panocean Energy-operated producing Remboue oil field (Block ET 2000).
Current Status
  • Drilled 3 wells and discovered oil and gas in 3rd well
  • Locations for two appraisal wells released
  • Drilling of 1st appraisal well completed
  • Drilling of 2nd appraisal well is in progress
Location: Interior Basin
Area: 3761 sq.km

Consortium Partners
  • OIL -50% (Operator)
  • IOCL- 50%
Past Exploration Activity
  • Aero gravity, magnetic, 2D Seismic and wells
Work Commitment
  • Phase-I: 2 Appraisal Wells and 1200 GLKM closed grid 2D Seismic API
  • Phase-II: 1 Appraisal Well and 1 Exploratory Well
  • Phase-III: 1 Exploratory Well

NIGERIA

OML 142, Onshore Nigeria
  • OIL farmed into JV M/s Suntera Nigeria 205 who acquired this onland block operated by M/s Summit Oil, Nigeria in 2005
  • M/s Summit Oil assigned 40% PI and 30% Economic Interest to JV - M/s Suntera Nigeria 205 Ltd.
  • Block license has been converted from OPL 205 to OML142 for development of old gas /condensate discovery Formal award from Nigerian Government received.
  • 3D seismic data acquisition completed. Processing to commence.
Location: Niger Delta-Anambra basin
Area: 1295 sq km

Working and Economic Interest
  • M/s Summit Oil International. Ltd. – 30%
  • M/s Suntera Nigeria 205 JV - 70%
    [Suntera Resources – 50% (Operator)(effective 35% PI)]
    [OIL - 25% (17.5% effective PI)]
    [IOC - 25 % (17.5% effective PI)]

YEMEN

Block 82, Onshore Yemen
  • The block is located in the southwestern flank part of Messila Basin and southern part of Mukalla high of Yemen onshore.
  • Consortium was awarded the block in Third Yemen International Bid Round-2006.
  • Seismic API in progress.
Location: Messila Basin
Area: 1853 sq km

Consortium Partners
  • MEDCO - 38.25% (Operator)
  • Kuwait Energy – 21.25%
  • YOGC - 15% (Carried Interest)
  • OIL - 12.75%
  • IOC – 12.75%

VENEZUELA

Project 1, Carabobo, Venezuela
  • Consortium has been awarded two development blocks (C1 Central & North) located in Carabobo area of Orinoco Heavy Oil Belt, Venezuela.
  • The project involves exploitation of the extra heavy crude, setting up of up-grader and marketing the product.
  • Mixed Company Contract signed on 12th May 2010 at Caracas.
  • Drilling activities have commenced and are currently ongoing.
  • Early accelerated production commenced.
Location: Maturin Sub-basin (East Venezuela)
Area: 383.12 sq.km

Consortium Partners
Mixed Company (Operator)
  • PDVSA - 71%
  • OIL - 3.5%
  • IOCL - 3.5%
  • OVL - 11%
  • Repsol - 11%

USA

Niobrara Shale Asset
  • OIL acquired a 20% working interest in the liquid rich shale asset in the Denver-Julesburg Basin from Carrizo Oil & Gas, Inc. in October 2012.
  • Current production from the acreage to net to OIL is approx 1000 BOE/D
Location: Onshore Colorado, USA
Area: 248.88 sq km

Consortium Partners
  • Carrizo Oil & Gas, Inc. - 60% (Operator)
  • OIL - 20%
  • IOCL - 10%
  • Haimo Oil & Gas – 10%

MOZAMBIQUE

Area Rovuma 1 Offshore
  • OIL acquired a 4% participating interest in the natural gas rich (45-75 Tcf) asset January, 2014.
  • Tentative timeline for first LNG production is 2018.
Location: Offshore, Mozambique
Area: 9,653 sq km

Consortium Partners
  • Anadarko: 36.5% (Operator)
  • BPRL: 10%
  • PTTEP: 8.5%
  • Mitsui: 20%
  • BREML (Beas Rovuma Energy Mozambique Limited) (JV of OVL 60% and OIL 40%): 10%
  • ENH: 15% (Carried Interest )

BANGLADESH

Block SS-04
  • OIL signed the Production Sharing Contract on 17th February, 2014.
Location: Shallow Water Offshore, Bangladesh
Area: 7,269 sq km

Consortium Partners
  • OVL: 45% (Operator)
  • OIL: 45%
  • BAPEX: 10% (Carried Interest)

Block SS-09
  • OIL signed the Production Sharing Contract on 17th February, 2014.
Location: Shallow Water Offshore, Bangladesh
Area: 7,026 sq km

Consortium Partners
  • OVL: 45% (Operator)
  • OIL: 45%
  • BAPEX: 10% (Carried Interest)

MYANMAR

Block M-4
  • OIL awarded the Block in March, 2014
  • PSC to be signed
Location: Shallow Water Offshore, Myanmar
Area: 10,421 sq km

Consortium Partners
  • OIL: 60% (Operator)
  • Mercator Petroleum: 25%
  • Oilmax Energy : 10%
  • Oilstar: 5 % (Carried Interest)

Block YEB
  • Block awarded to OIL in March, 2014
  • PSC to be signed
Location: Shallow Water Offshore, Myanmar
Area: 21,380 sq km

Consortium Partners
  • OIL: 60% (Operator)
  • Mercator Petroleum: 25%
  • Oilmax Energy : 10%
  • Oilstar: 5 % (Carried Interest)

RUSSIA

License 61
  • OIL acquired a 50% participating interest in the oil producing block with effect from 1st, January, 2014.
  • Current Production share net to OIL is 1050 BOPD
Location: Onshore Russia
Area: 4,991 Sq Km

Consortium Partners
  • OIL: 50%
  • Petroneft Resources Plc (Operators)

Product Pipeline, Sudan
  • Contract for execution of Product Pipeline from Al Rawyan to Port Sudan on Build, Operate, Lease and Transfer Basis
  • Completion Target Date: 30th October 2005
  • Project Completed: August 2005
  • Pipeline commissioned by Govt. of Sudan: 14th October 2005
Pipeline length: 741 Km.

Consortium Partners
  • OVL - 90%
  • OIL - 10%