Rs.1,248 crore budgeted for E&P expenditure
Minister of Petroleum & Natural Gas Minister Dharmendra Pradhan has inaugurated a Rs.220 crore onshore seismic survey campaign of Oil India Limited (OIL), Odisha in the Mahanadi Basin pf Odisha.
The seismic survey will be a major milestone in establishing Mahanadi as a hub of E&P operations and building hydrocarbon reserves at Kakatpur in Puri District.
“Oil and gas activities started in the 1980s in Odisha. With the new approach, state-of-the-art technology, we are confident that we will get success in the seismic campaign launched today in Odisha,” he said at the inauguration on 20 Nov 2020.
The Government has launched a number of policy reforms in hydrocarbon E&P sector, chief among them being the Open Acreage Licensing Policy (OALP).
The Government also is implementing the National Seismic Programme (NSP) for appraising un-appraised areas of Indian sedimentary basins.
Seismic data acquired under NSP in the state of Odisha led to an offer of five blocks by DGH and OIL won all the five blocks for hydrocarbon exploration under OALP-II and III rounds.
OIL plans to acquire, process and interpret 1,502-line km of 2D seismic data and 1,670 sq km of 3D seismic data in the five blocks under its concessions.
An extensive exploratory drilling campaign will be carried out depending on the results of the survey.
OIL plans to spend Rs.1,248 crore on exploring the five onshore blocks in Mahanadi Basin, including the Rs.220 crore on the survey.
The blocks are spread in eleven districts of Odisha namely Puri, Khurda, Cuttack, Jagatsingpur, Kendrapara, Dhenkanal, Jajpur, Bhadrak, Baleshore, Maurbhanj and Keonjhar. #energy #OPEC #investment #exploration #hydrocarbons /fiinews.com
