Oil India Limited (OIL)| JVs / PSCs / Alliances

Bread Crum

Home > About Us > JVs / PSCs / Alliances

Updated On:19/06/2019

Page Title

JVs / PSCs / Alliances

Page Content

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%