Adani Welspun Exploration Ltd. (AWEL), a joint venture between the Adani Group and Mumbai-based Welspun Enterprises Ltd, announced its first ever gas discovery in a NELP-VII block Tapti-Daman Sector of Mumbai Offshore basin. Known as MB-OSN-2005/2, the 714.6 sq.km block is located in an area where production is already underway by other operators. The block […]
IT firm Tata Consultancy Services (TCS) on Monday said that it has been selected by offshore drilling company Seadrill to transform its digital infrastructure. According to the new deal, TCS will support Seadrill’s global lT operations on its its mobile offshore drilling rigs as well as its onshore locations, and will provide local support services […]
ONGC Ltd will redraw its long-term roadmap in coming days to bring it in line with the changed operating realities of the company, the state-owned company’s chairman and managing director Shashi Shanker said. The company’s current vision document, known as Perspective Plan 2030, was drawn up seven years ago and laid out the company’s long […]
Oil India Limited (OIL) said it found hydrocarbons in two explorator wells in Assam in the July-September quarter. The first one, in Dibrugarh, produced natural gas at the rate of 1.15 lakh cubic meters per day, while the second one, in Tinsukia, produced gas at 1 lakh scmd. These numbers are at the higher end of production […]
Larsen & Toubro said it, along with its consortium partners Baker Hughes and McDermott International, has won the contract for constructing one of India’s largest deepwater oil and gas projects. The contract is for construction at ONGC’s KG DWN-98/2 basin that lies close to the KG-D6 block of Reliance Industries. “The integrated subsea package includes […]
Vedanta Limited, which operates the country’s largest on-shore petroleum mining facility, said it has emerged as the favored bidder to explore 41 oil and gas blocks in India at a cost of US$551 million (Rs 3,900 cr) over the next six years, including 8 offshore blocks. It is eligible to mine and sell the petroleum […]
Oil and Natural Gas Corporation Ltd, India’s largest hydrocarbon producer, said it plans to spend Rs 17,615 cr on drilling activity in the current financial year. This is a 24% increase over the Rs 14,200 cr spent in the year ended March. The company also set a record in financial year 2017-18 by drilling the […]
Construction major Larsen & Toubro said its Hydrocarbon Engineering unit, along with its partner, won an order to supply three Gas Production Deck Modules from Saudi Aramco, one of the world’s largest oil companies. “This is the fourth award for the consortium of L&T Hydrocarbon Engineering (LTHE) with Subsea 7,” the Indian company said. The […]
ONGC said the government of Mozambique has approved the field development plan for a gas field in ‘Area 1’, one of the largest gas blocks in East Africa. ONGC owns 16% of the block, while 4% of the block is owned by Oil India Ltd and another 10% is controlled by Bharat Petroleum Corporation Ltd […]
State-owned oil producer ONGC said it may not be able to keep up with the development schedule of its offshore oil block next to Reliance Industries’ KG D6, but said it was too early to ascertain the exact quantum of delay. The KG-DWN- 98/2 offshore block was supposed to see an investment of $5.1 bln […]
A consortium of companies, including ONGC, Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, have taken a 10% stake in Lower Zakum Concession. The “participation fee” paid by the Indian consortium is 2.2 billion UAE dirhams (Rs 3,850 cr). The onshore field is located inside the UAE and is owned by the Abu Dhabi […]
Construction giant Larsen & Toubro said it has won a Rs 1,483 cr contract from oil and gas producer ONGC to create offshore platforms, pipelines and other works in its Bassein field offshore Mumbai. “The project includes three new wellhead platforms, 23 kilometer Subsea pipeline, composite Subsea power cable, clamp-on works on an existing platform […]
Vedanta, one of the world’s biggest producers of minerals, said it plans to increase its oil and gas output by around 100,000 barrels per day to 275,000-300,000 barrels per day by March 2020, and expand its Tuticorin copper plant to the world’s largest. At present, the Tuticorin copper smelter is producing 400,000 tons per year. […]
Construction major Larsen & Toubro said it won a ₹ 1150 crore contract from Oil & Natural Gas Corporation (ONGC) for the transportation & installation of the oil company’s Daman Development Project. The Contract, won against international competitive bidding, encompasses total ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning for the project, the company said. […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
ONGC Videsh Limited, the overseas subsidiary of ONGC, said it completed the acquisition of 30% interest in Namibia’s offshore block, as announced earlier. The acquisition involves blocks 2112A, 2012B and 2113B. The stake was purchased from Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc. T Tullow with continue to be the […]
The recent gas price increase will improve the profitability of gas production operations of Oil India and ONGC, India Ratings said, while also benefiting transporter GAIL. “Although producers have been benefiting from lower rig and vessel rentals for renewed contracts due to soft crude prices, the operating cost remains close to realisations from its sale,” […]
GAIL has started drilling the first exploratory well as operator in its NELP-IX Block CB-ONN in Cambay Basin. The process, technically called “spudding”, started on March 27, 2016 in the well situated in Dugari village in Tarapur Tehsil of Anand District of Gujarat. GAIL (India) Limited is the lead operator of the block with 25 […]
Giving in to a long-standing demand, the Indian government has allowed new gas producers to enter into negotiated pricing deals with their customers subject to certain ceiling tariff. At present, gas prices are fixed by the government through a formula. The policy guidelines would be applicable to future discoveries as well as existing discoveries which […]
