Overseas Alliance and JVs
JSC Vankorneft - RUSSIA
OIL along with IOCL and BPRL acquired 23.9% participating interest in JSC Vankorneft through Singapore based SPV (Vankor India Pte Ltd), with effect from 5th October 2016.
- License Validity: 2112
- Location: Onshore Russia
- Area: 1,869 Sq Km
- Asset Type: Producing
- Partners :
- Rosneft : 50.1 %
- ONGC Videsh Ltd : 26.0 %
- Vankor India Pte Ltd : 23.9 %
- OIL INDIA INTL PTE. LTD : 33.5%(Effective PI: 8.0065%)
- IOCL SINGAPORE PTE. LTD : 33.5%(Effective PI: 8.0065%)
- BPRL INTL.SINGAPORE PTE. LTD : 33.0%(Effective PI: 7.887%)
LLC TYNGD - RUSSIA
OIL along with IOCL and BPRL acquired 29.9% participating interest in LLC TYNGD through Singapore based SPV (Taas India Pte Ltd), with effect from 12th October 2016.
- License Validity: 2130
- Location: Onshore Russia
- Area: 1424 Sq Km
- Asset Type: Producing
- Partners :
- Rosneft : 50.10%
- British Petroleum : 20.00%
- Taas India Pte Ltd: 29.90%
- OIL INDIA INTL PTE. LTD :33.5%(Effective PI: 10.0165%)
- IOCL SINGAPORE PTE. LTD : 33.5%(Effective PI: 10.0165%)
- BPRL INTL.SINGAPORE PTE. LTD : 33.0%(Effective PI: 9.867%)
Project 1, Carabobo - VENEZUELA
Consortium has been awarded two development blocks (C1 Central & North) located in Carabobo area of Orinoco Heavy Oil Belt, Venezuela, in 2010.
- Production commences in 2012.
- Location: Maturin Sub-basin (East Venezuela)
- Area: 383.12 sq.km
- Asset Type: Producing
- Consortium Partners
- PDVSA - 71%
- OIL - 3.5%
- IOCL - 3.5%
- OVL - 11%
- Repsol - 11%
OML 142, Onshore - NIGERIA
OIL farmed into JV M/s Suntera Nigeria 205 who acquired this onland block operated by M/s Summit Oil, Nigeria in 2005. M/s Summit Oil assigned 40% PI and 30% Economic Interest to JV - M/s Suntera Nigeria 205 Ltd. Block license has been converted from OPL 205 to OML142 for development of old gas /condensate discovery w.e.f 12th June 2009. Processing and interpretation of the acquired 3D seismic data has been completed in 2016. Field under appraisal for development.
- Location: Niger Delta-Anambra basin
- Area: 1295 sq km
- Asset Type: Under Appraisal/Development
- Working and Economic Interest
- M/s Summit Oil International. Ltd. – 30%
- M/s Suntera Nigeria 205 JV - 70% Suntera Resources – 50% (Operator)(effective 35% PI) OIL - 25% (17.5% effective PI) IOC - 25 % (17.5% effective PI)
Area Rovuma 1 Offshore - MOZAMBIQUE
OIL jointly with OVL, through a JV BREML, in ratio of 40:60, acquired a 10% participating interest in the natural gas rich asset, in January, 2014.
Area-1 has made discoveries in 5 fields, Golfino-Atum (GA), Prosperidade, Tubarao, Orca, and Tubarao Tigre.
Area-1 concessionaire decided to initially monetize gas from G-A field by setting up of 2 train LNG plant of total capacity 13.12 MMTPA and FID for the same was taken in June 2019.
- Location: Offshore, Mozambique
- Area: 4,977 sq km
- Asset Type: Under Development
- Consortium Partners
- TOTALENERGIES: 26.5% (Operator)
- BPRL: 10%
- PTTEP: 8.5%
- Mitsui: 20%
- BREML (JV of OVL 60% and OIL 40%): 10%
- OVRL: 10%
- ENH: 15%
Area 95/96 - Onshore LIBYA
This area is located in the Ghadames basin in the Southwestern part of Libya. In Exploration and Production Sharing Agreement (EPSA), Bid Round IV, 2007, the Consortium of M/s SIPEX, OIL and IOC won this oil-prolific onshore block. The PSC was signed on May 25, 2008. Initial Block Validity was upto 06.05.2026. One year extension of Block validity for the period 07.05.2026 to 06.05.2027 has been approved by NOC, Libya.
Current Status
- 2D Seismic (2652 GLKM) and 3D (2891 Sq. Km) survey and Interpretation of data completed.
- Total 6 wells drilled.
- Discovered oil and gas in the one (1) well and gas in four (4) wells. Estimated in-place oil resources: 3.57 MMSKL and gas resource: 15.65 BCM.
- Remaining MWP: Completion of drilling of the remaining two MWP wells.
- Appraisal Program: Appraisal program planned for five (5) nos. of discoveries.
- Location: Ghadames Basin
- Area: 6629.18 sq. km
- Asset Type: Under Exploration
- Consortium Partners
- SIPEX - 50% (Operator)
- OIL - 25%
- IOCL- 25%
- Work Commitment
- 2D Seismic: 2000 LKM
- 3D Seismic: 2600 Sq. Km
- No of Wells: 08
