Undertook seismic studies of blocks acquired from earlier round to chart bidding strategy for OALP-X, Oil India Chief

Oil India undertook seismic study of the blocks it was awarded during the ninth round of the Open Acreage Licensing Policy (OALP) to chart a bidding strategy for the tenth round, Chairman & Managing Director Ranjit Rath told The Hindu at the sidelines of the India Energy Week in Goa earlier this week.

“As we speak, 2D seismic acquisition is complete. We had planned this much before,” he stated, adding, “We have also completed 36% of the 3D seismic [study] alongside petroleum system modelling study of the basins as part of our in-house study, analysis of locations and [to chart] a bidding strategy,” he said.

“Now, we are now looking at OALP Round-X and would be submitting bids [accordingly],” he emphasised.

For context, Maharatna had submitted bids for 9 blocks, standalone and in joint ventures, and won all in the erstwhile OALP round. This expanded their acreage by more than 51,000 square kilometres to 110,000 square kilometres.

The company had received blocks in Assam Shelf basin, Mahanadi basin, Krishna Godavari basin and debuted in the Cambay basin.

Exploration target

Further, in response to a query about exploration targets, Mr. Rath informed the explorer is targeting to cross 80 wells this year, and 100 the next year.

Completed drilling 3,000 metres of the third well in the Andaman basin

Further, responding to a query about the latest development about the reported occurrence of natural gas in the Andaman basin, Mr. Rath told The Hindu that Oil India has drilled 3,000 metres of the total 4,200 metre of the third well it would drill – in the Andaman basin.

The state-owned explorer had reported first hydrocarbon occurrence in the Andaman basin September last year. Oil India would be drilling depot four wells in the block which it acquired at the second round of the Open Acreage Licensing Policy (OALP) in 2019. It was while drilling the second well, that is on the eastern part of the coast of Port Blair, that it established reported occurrence of natural gas. That was at a depth of 2,200 metres of the total 2,600 metres drilled.

Mr. Rath stated the development imbibed confidence on varied fronts. “One, that there is presence of hydrocarbon[s]; second, it is a petroliferous basin which is akin to the gas fields that we have at the South of Andaman and also North of Andaman,” he stated.

Mr. Rath mentioned there would be a re-appraisal of the structure, that is, second well.

“As part of that, we have already reprocessed the 2D seismic data that we have, and have already planned to do a 3D seismic data collection [or API] for about 600 square kilometres in that area followed by an appraisal well, and then we will be able to tell you how big or small the discovery is,” he informed.