Guwahati, October 9: Oil India Limited (OIL), India’s second largest National ‘Navratna’ E&P Company, in terms of total proved and probable oil and natural gas reserves, has launched its offshore operations today in Andaman Shallow Waters.
The off-shore operation has been started with deployment of a state-of-the-art multi-purpose seismic data acquisition vessel “SW Vespucci” for acquisition of 8400 LK of 2D seismic data in its OALP-III blocks AN-OSHP-2018/1 & AN-OSHP-2018/2.
The exploration efforts in Andaman off-shore are being resumed after a long period of time. On the on-shore front, OIL was the first company to commence 2D & 3D seismic data acquisition in any onshore OALP block in the country and also the first company to complete the committed seismic work programme in an onshore OALP block.
The CMD of the OIL, Sushil Chandra Mishra informed that the company has drawn up plans to intensify its exploration efforts in the country and increase exploration CAPEX in the coming years.
He further stated that the data acquisition in Mahanadi on-land blocks in the state of Odisha would begin shortly and the exploration drilling campaign in its OALP blocks would commence during 2021-22.
The OIL plans to carry out about 15000 LKM of 2D API, 4000 sq.km. of 3D API and drill 66 wells in OALP blocks in the next 3-4 years.
OIL was awarded 21 blocks spread over Assam & Assam Arakan basin, Rajasthan, Mahanadi Onland, Andaman and Kerala-Konkan Offshore basins.
Through this process, the company has consolidated its position as the leading Operator in Northeast with a total acreage area of 17000 sq km.
The company has been actively participating in the OALP rounds in an endeavour to intensify exploration and is expecting two more blocks under OALP V in the state of Assam which would take the acreage position of OIL in northeast to over 20000 sq. km.