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Oil & Natural Gas: News & Discussion

The Technology & Economic Forum is a venue to discuss issues pertaining to Technological and Economic developments in India. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
VinodTK
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Posts: 2134
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Re: Oil & Natural Gas: News & Discussion

Postby VinodTK » 01 Jan 2018 20:07

ONGC makes significant oil, gas discovery in Arabian Sea
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) has made a significant oil and gas discovery to the west of its prime Mumbai High fields in the Arabian Sea, oil minister Dharmendra Pradhan said on Monday.

In a written reply to a question in the Lok Sabha, he said the discovery was made in the well WO-24-3 (WO-24-C) drilled west of Mumbai High fields.Though a holiday was declared for Parliament, replies to questions were posted on the Lok Sabha website.
"Based on the data generated during drilling, 9 objects/zones were identified and on testing all the objects flowed oil/gas," he said.

The discovery has indicated potential in-place reserves of about 29.74 million tonnes of oil and oil equivalent gas, he said.

"The 9th object on testing flowed oil at the rate of 3,310 barrels per day and gas at the rate of 17,071 cubic meter per day," the minister said. "This multi-layered oil and gas accumulation in this well opened up new area for exploration/development."

Mumbai High, India's biggest oil field, currently produces 205,000 barrels of oil per day (just over 10 million tonnes per annum) and the new find would add to that production in less than two years' time.

ONGC is carrying out a further appraisal of the discovery and has intimated upstream regulator the Directorate General of Hydrocarbons (DGH).

The new find, which comes almost 50 years after ONGC began production in Mumbai High, will help the company maintain production levels from the basin for a longer time than currently estimated.

Mumbai High is ONGC's flagship oil producing assets. It along with other small fields along the western offshore produce 16 million tonnes per annum of oil, which is 44 per cent of Indias total crude oil production of 36 million tonnes.

ONGC produced 25.5 million tonnes of oil in 2016-17, which will reach 28-29 million tonnes by 2019-20, officials said.

chetak
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Re: Oil & Natural Gas: News & Discussion

Postby chetak » 01 Jan 2018 20:14

Is this going to rake up the sir creek issue once again with our ever greedy neighbor salivating over redrawing the line??

Mort Walker
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Re: Oil & Natural Gas: News & Discussion

Postby Mort Walker » 02 Jan 2018 22:54

VinodTK wrote:ONGC makes significant oil, gas discovery in Arabian Sea
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) has made a significant oil and gas discovery to the west of its prime Mumbai High fields in the Arabian Sea, oil minister Dharmendra Pradhan said on Monday.

In a written reply to a question in the Lok Sabha, he said the discovery was made in the well WO-24-3 (WO-24-C) drilled west of Mumbai High fields.Though a holiday was declared for Parliament, replies to questions were posted on the Lok Sabha website.
"Based on the data generated during drilling, 9 objects/zones were identified and on testing all the objects flowed oil/gas," he said.

The discovery has indicated potential in-place reserves of about 29.74 million tonnes of oil and oil equivalent gas, he said.

"The 9th object on testing flowed oil at the rate of 3,310 barrels per day and gas at the rate of 17,071 cubic meter per day," the minister said. "This multi-layered oil and gas accumulation in this well opened up new area for exploration/development."

Mumbai High, India's biggest oil field, currently produces 205,000 barrels of oil per day (just over 10 million tonnes per annum) and the new find would add to that production in less than two years' time.

ONGC is carrying out a further appraisal of the discovery and has intimated upstream regulator the Directorate General of Hydrocarbons (DGH).

The new find, which comes almost 50 years after ONGC began production in Mumbai High, will help the company maintain production levels from the basin for a longer time than currently estimated.

Mumbai High is ONGC's flagship oil producing assets. It along with other small fields along the western offshore produce 16 million tonnes per annum of oil, which is 44 per cent of Indias total crude oil production of 36 million tonnes.

ONGC produced 25.5 million tonnes of oil in 2016-17, which will reach 28-29 million tonnes by 2019-20, officials said.


Doesn’t seem like a lot. Around 30 million tones or 210 million barrels. India uses some 5 million barrels a day.

Austin
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Re: Oil & Natural Gas: News & Discussion

Postby Austin » 13 Jan 2018 17:32


Prem
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Re: Oil & Natural Gas: News & Discussion

Postby Prem » 18 Jan 2018 02:05

https://sputniknews.com/analysis/201712 ... -oi-field/


New Delhi (Sputnik) — The Indian consortium led by ONGC was among the two global entities that took part in the auction of Israel's offshore gas fields held last month after a gap of more than 4 years during which the sea was completely closed for the distribution of new exploration licenses.
The consortium comprising ONGC Videsh Ltd, Bharat PetroResources Ltd, Indian Oil Corporation Ltd and Oil India Ltd is also set to be registered as a foreign company in Israel's Corporations' Authority in January 2018. This would facilitate its participation in the second round of bidding.
The Israeli blocks are in close proximity to a number of large and proven gas deposits in the eastern Mediterranean. Some are adjacent to the recently discovered Leviathan and Tamar fields. According to an industry estimate, nearly 2,200 billion cubic meters of natural gas and a potential 6.6 billion barrels of oil are to be discovered in these blocks.India's decision to enter Israeli waters for energy exploration has a greater strategic significance than securing energy at another location, especially after waiting for several years to win exploration rights for Iran's Farsi and Farzad B gas fields."India wants to send two signals from this decision. First, if Iran continues to dillydally on the proposal of awarding gas fields to India, New Delhi can open new vistas for exploration in the region; secondly, to Israel that New Delhi really wants to deepen its relationship with the Jewish nation," SC Tripathi, former secretary in India's Ministry of Petroleum & Natural Gas told Sputnik."Entry into Israeli water for gas exploration could upset some Arabian nations. But, of late, it is being seen that countries like Jordon have started co-operating with Israel while Saudi Arabia is no more fervently opposing Israel. Iran is the only country in the region which could pose strong opposition to the Indian move," SC Tripathi, added."Iran is very difficult county to do business due to multiple layers of negotiations. India had faced several years of delay in the Farsi block and the same outcome has been witnessed in the Farzad B gas block. Indian companies discovered both the fields but Iran delayed the decision in awarding development rights. The similar situation has emerged in the Iran-India pipeline project. This is the major reason for India to move towards Israel," Tripathi added.Nevertheless, some experts also believe that the decision to explore Israeli gas field should not be linked with Iran's reluctance to allocate the Farzad B gas field to India."Any possible investment in Israel's gas potential would be independent of India's deep oil and gas ties with Iran and the Arab world, including Qatar, Iraq, Oman and Saudi Arabia. India's ONGC Videsh discovered the Farzad B and New Delhi is very hopeful that OVL will be allowed to develop the field's full potential. India and Iran are two close and strategic partners in oil and gas," Narendra Taneja, India's leading energy expert told Sputnik.00Also, from a larger perspective, the main question that lingers is what would India gain from the deal with Israel? "I don't see a large quantity of gas on the coast of Israel and it would be very difficult for India to bring gas from these coasts. Either, India will have to sell the gas to Egypt, which already discovered a huge quantity of gas, or bring the LNG through Suez Canal," SC Tripathi concludes.Experts also believe that if the Narendra Modi government is using this situation as a comeback to Iran for not protecting its economic interests, then it must take into account the larger strategic interests in Afghanistan, Russia, and the CIS countries as the Chabahar port in Iran is the only access point it has to reach out to these countries bypassing arch-rival Pakistan.

Austin
BRF Oldie
Posts: 20241
Joined: 23 Jul 2000 11:31

Re: Oil & Natural Gas: News & Discussion

Postby Austin » 29 Jan 2018 18:23


chanakyaa
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Location: Hiding in Karakoram

Re: Oil & Natural Gas: News & Discussion

Postby chanakyaa » 11 Feb 2018 03:06

India Wins Piece of Abu Dhabi Oil With Stake in $6 Billion Field
India secured a share in Abu Dhabi’s oil production for the first time after agreeing to pay $600 million for a tenth of one of the emirate’s biggest offshore deposits...

arun
BRF Oldie
Posts: 9465
Joined: 28 Nov 2002 12:31

Re: Oil & Natural Gas: News & Discussion

Postby arun » 11 Feb 2018 09:34

Austin wrote:Russia’s Gazprom To Help Build Iran-India Gas Pipeline

https://oilprice.com/Latest-Energy-News ... eline.html


Cut from November 2017 to February 2018 and it appears that Gazprom was being unrealistically hopeful.

The Iran – Pakistan – India (IPI) pipeline is going nowhere 8) . “Brotherly” Ummah member and fellow Islamic Republic, Iran, is threatening to take the Mohammadden Terrorism Fomenting Islamic Republic of Pakistan to Court over the lack of progress on pipeline construction:

Iran oil ministry to start legal action against Pakistan


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