All content in this website is sourced legitimately
Archives
All the news items since the launch of our web site are preserved in the archive section. The archive entries are freely accessible to all the users.
Aug 2015
The revamp with involve the following units:
8The DHDT to be revamped and expanded by 30% from present capacity of 2.2 MMTPA to 2.86 MMTPA.
8The capacity of the DHDS to be raised to 2.2 MMTPA from the existing 1.77 MMTPA. The unit was original designed for a capacity of 1.4 MMTPA.
8The VGO-HDT unit, with a capacity of 2.1 MMTPA (conversion- 24.39 wt% at SOR and 29.91 wt% at EOR) will be revamped along with the MHC.
8The HGU-3 with a capacity of 72.5 TMTPA will also go in for a revamp along with the PSA.
8No additional work is envisaged in the Sulphur Recovery Unit (SRU), ARU and SWS. Details
8The DHDT to be revamped and expanded by 30% from present capacity of 2.2 MMTPA to 2.86 MMTPA.
8The capacity of the DHDS to be raised to 2.2 MMTPA from the existing 1.77 MMTPA. The unit was original designed for a capacity of 1.4 MMTPA.
8The VGO-HDT unit, with a capacity of 2.1 MMTPA (conversion- 24.39 wt% at SOR and 29.91 wt% at EOR) will be revamped along with the MHC.
8The HGU-3 with a capacity of 72.5 TMTPA will also go in for a revamp along with the PSA.
8No additional work is envisaged in the Sulphur Recovery Unit (SRU), ARU and SWS. Details
The Gujarat refinery was commissioned in the year 1965 with a nameplate capacity of 3.0 MMTPA.
8Over the years, the capacity of the refinery has gradually been increased to 13.7 MMTPA with augmentation of old primary Atmospheric Units (AU-I, AU-II and AU-III) and addition of new primary units, Atmospheric Unit-IV in 1978 and AU-V in 1999 as well as augmentation of AU-IV in 2000.
8Secondary processing facilities, such as the Fluidized Catalytic Cracking Unit (FCCU) and the Hydro-cracking Unit (HCU) were added in 1982 and 1993 respectively to improve the distillate yield. The Diesel Hydro-desulphurization Unit (DHDS) and Hydrogen Generation Unit (HGU) were added in 1999 to meet BS-2000/BS-II quality of HSD.
8MS Quality Improvement Project comprising of Continuous Catalytic Reforming Unit (CCRU) and revamp of the DHDS were carried out in 2006 and 2007 respectively to meet BS-II/BS-III MS and HSD quality respectively
8Further, under the Residue Up-gradation Project (RUP) and MS/HSD quality improvement, Project Delayed Coking Unit (DCU), VGO-HDT, DHDT, HGU-III, SRU, Isomerisation Unit (ISOM), ATF & LPG Merox units were commissioned in 2010-11. Details
8Over the years, the capacity of the refinery has gradually been increased to 13.7 MMTPA with augmentation of old primary Atmospheric Units (AU-I, AU-II and AU-III) and addition of new primary units, Atmospheric Unit-IV in 1978 and AU-V in 1999 as well as augmentation of AU-IV in 2000.
8Secondary processing facilities, such as the Fluidized Catalytic Cracking Unit (FCCU) and the Hydro-cracking Unit (HCU) were added in 1982 and 1993 respectively to improve the distillate yield. The Diesel Hydro-desulphurization Unit (DHDS) and Hydrogen Generation Unit (HGU) were added in 1999 to meet BS-2000/BS-II quality of HSD.
8MS Quality Improvement Project comprising of Continuous Catalytic Reforming Unit (CCRU) and revamp of the DHDS were carried out in 2006 and 2007 respectively to meet BS-II/BS-III MS and HSD quality respectively
8Further, under the Residue Up-gradation Project (RUP) and MS/HSD quality improvement, Project Delayed Coking Unit (DCU), VGO-HDT, DHDT, HGU-III, SRU, Isomerisation Unit (ISOM), ATF & LPG Merox units were commissioned in 2010-11. Details
India's oil imports from Iran rose by 69.7% from 1,67,300 bpd in June 2014 to 2,83,900 bpd in June 2015, government and tanker-tracking data showed.
8Though, during the period of January-June 2015 the imports saw a drop of 22.9% when compared to the same period of last year.
8India showed the maximum rise in Iranian crude oil imports during June 2015 as compared to other Asian countries as the earlier part of the year was spend winding down imports as there was no deal in sight with the West over its nuclear programme but now that an agreement has been reached, imports are expected to climb up. More Iranian oil is already on the move though, with atleast one 2-million-barrel supertanker on its way to Asia after sitting in Iranian waters for months as storage.
8On a broader view, Asian imports of Iranian crude oil rose by 13% in June 2015 as compared to June 2014.
8Iran has already outlined plans to rebuild its main industries and trade relationships as last week it was targeting oil and gas projects with foreign partners worth $185 billion by 2020.
8Imports by Iran's four biggest buyers - China, India, Japan and South Korea - totaled 1.17 million barrels per day (bpd) in June 2015.
8Despite of considerable increase in Iran's crude export to Asia, Japan's import from Iran fell by 50.7% in June 2015. Details
8Though, during the period of January-June 2015 the imports saw a drop of 22.9% when compared to the same period of last year.
8India showed the maximum rise in Iranian crude oil imports during June 2015 as compared to other Asian countries as the earlier part of the year was spend winding down imports as there was no deal in sight with the West over its nuclear programme but now that an agreement has been reached, imports are expected to climb up. More Iranian oil is already on the move though, with atleast one 2-million-barrel supertanker on its way to Asia after sitting in Iranian waters for months as storage.
8On a broader view, Asian imports of Iranian crude oil rose by 13% in June 2015 as compared to June 2014.
8Iran has already outlined plans to rebuild its main industries and trade relationships as last week it was targeting oil and gas projects with foreign partners worth $185 billion by 2020.
8Imports by Iran's four biggest buyers - China, India, Japan and South Korea - totaled 1.17 million barrels per day (bpd) in June 2015.
8Despite of considerable increase in Iran's crude export to Asia, Japan's import from Iran fell by 50.7% in June 2015. Details
Six firms have evinced interest in constructing the pipeline from Cairn's Raageshwari gas processing terminal in Rajasthan to GSPL's storage facility at Palanpur, Gujarat.
8The companies are: Essar Projects, Corrtech Energy, Punj Lloyd, JSIW Infrastructure, Jaihind Projects and KazStroyService.
8The 200 km pipeline will entail an investment of Rs 1,000 crore.
8Gas from the Raageshwari gas field is currently processed at the Raageshwari gas terminal (RGT), which is situated about 80 km from the crude oil processing terminal known as the Mangala processing terminal (MPT).
8Cairn India, which holds 70% stake in the Barmer block, and its PSU joint venture partner ONGC, which holds a 30% stake, had invited EoIs for upgrading the RGT and laying the pipeline from domestic and international companies.
8The scope of work involves detailed design, engineering, procurement, fabrication, complete installation and commissioning of the pipeline on an EPC basis.
8The new gas processing plant at the existing RGT is expected to have a capacity to process 100-300 million standard cu ft of gas per day.
8The RDG is estimated to hold about 1-3 trillion cubic feet (tcf) of gas in-place. Of this, the estimated recovery factor is of 50%. Details
8The companies are: Essar Projects, Corrtech Energy, Punj Lloyd, JSIW Infrastructure, Jaihind Projects and KazStroyService.
8The 200 km pipeline will entail an investment of Rs 1,000 crore.
8Gas from the Raageshwari gas field is currently processed at the Raageshwari gas terminal (RGT), which is situated about 80 km from the crude oil processing terminal known as the Mangala processing terminal (MPT).
8Cairn India, which holds 70% stake in the Barmer block, and its PSU joint venture partner ONGC, which holds a 30% stake, had invited EoIs for upgrading the RGT and laying the pipeline from domestic and international companies.
8The scope of work involves detailed design, engineering, procurement, fabrication, complete installation and commissioning of the pipeline on an EPC basis.
8The new gas processing plant at the existing RGT is expected to have a capacity to process 100-300 million standard cu ft of gas per day.
8The RDG is estimated to hold about 1-3 trillion cubic feet (tcf) of gas in-place. Of this, the estimated recovery factor is of 50%. Details
The final decision to lay the 200-km pipeline from the Raageshwari Deep Gas (RDG) Terminal in Rajasthan to the GSPL’s Palanpur Terminal in Gujarat rests with the PNGRB.
8Along with this, there is one more area where there is no clarity as yet. This relates to the cost recoverability of the pipeline.
8As the proposed gas delivery point at Palanpur in Gujarat where GSPL grid is connected, is beyond the contract area of the Rajasthan block, the approval of the government would be required for notification of the delivery point, based on which the cost recovery of the pipeline will be admissible.
8Cairn has requested the petroleum ministry to okay the construction of the pipeline and approve Palanpur as an additional delivery point for gas sales from the RDG field.
8The DGH however has claimed that the delivery point is at the Barmer field and cannot be extended to Palanpur. In other words, a delivery point at Palanpur, which is 200 kms away from the block, cannot be allowed under the PSC.
8The Rajasthan government too is opposed to the ferrying of gas outside the state boundaries and has written to the petroleum ministry claiming that gas sales should be restricted to the state. Details
8Along with this, there is one more area where there is no clarity as yet. This relates to the cost recoverability of the pipeline.
8As the proposed gas delivery point at Palanpur in Gujarat where GSPL grid is connected, is beyond the contract area of the Rajasthan block, the approval of the government would be required for notification of the delivery point, based on which the cost recovery of the pipeline will be admissible.
8Cairn has requested the petroleum ministry to okay the construction of the pipeline and approve Palanpur as an additional delivery point for gas sales from the RDG field.
8The DGH however has claimed that the delivery point is at the Barmer field and cannot be extended to Palanpur. In other words, a delivery point at Palanpur, which is 200 kms away from the block, cannot be allowed under the PSC.
8The Rajasthan government too is opposed to the ferrying of gas outside the state boundaries and has written to the petroleum ministry claiming that gas sales should be restricted to the state. Details
Cairn and its PSU joint venture partner ONGC have put forward a $694-million plan to develop gas reserves at the Raageshwari fields, which includes laying of the pipeline from the Barmer field to Palanpur. The total amount of $694.39 million will be spent as under:
8Seismic activities: $0.98 million
8Development studies: $11.79 million
8Drilling: $243.00 million
8Project management: $12.45 million
8Engineering: $3.50 million
8Surface facilities: $311.20 million
8Commissioning: $4.70 million
8Pre-operations: $6.56 million
8Land acquisition: $52 million
8Insurance: $1.47 million
8Office costs and overheads: $7.98 million
8G&A expenses: $6 million
8Contingency (5%): $32.76 million
8Total: $694.39 million Details
8Seismic activities: $0.98 million
8Development studies: $11.79 million
8Drilling: $243.00 million
8Project management: $12.45 million
8Engineering: $3.50 million
8Surface facilities: $311.20 million
8Commissioning: $4.70 million
8Pre-operations: $6.56 million
8Land acquisition: $52 million
8Insurance: $1.47 million
8Office costs and overheads: $7.98 million
8G&A expenses: $6 million
8Contingency (5%): $32.76 million
8Total: $694.39 million Details
The index of eight core industries, having a combined weight of 37.9% in the Index of Industrial Production (IIP) stood at 171.2 in June 2015, which is 3% higher compared to the index of June 2014.
8Crude Oil
--Crude oil production (weight of 5.22% in the IIP) decreased by 0.7% in June 2015 over June 2014.
--The cumulative index of crude oil during April-June, 2015, declined by 0.9% over the corresponding period of previous year.
8Natural Gas
--Natural gas production (weight of 1.71% in the IIP) in June 2015, declined by 5.9% over June 2014.
--Cumulative growth of natural gas production during April-June 2015 also declined by 4.2% over the corresponding period of the previous year.
8Petroleum Refinery Products
--It was only petroleum refinery production (weight of 5.94% in the IIP) that increased by 7.5% in June 2015, over June 2014.
--In cumulative terms, the growth of petroleum refinery production during April to June 2015, increased by 4.2% over the corresponding period of previous year.
(Click on Details for more information) Details
8Crude Oil
--Crude oil production (weight of 5.22% in the IIP) decreased by 0.7% in June 2015 over June 2014.
--The cumulative index of crude oil during April-June, 2015, declined by 0.9% over the corresponding period of previous year.
8Natural Gas
--Natural gas production (weight of 1.71% in the IIP) in June 2015, declined by 5.9% over June 2014.
--Cumulative growth of natural gas production during April-June 2015 also declined by 4.2% over the corresponding period of the previous year.
8Petroleum Refinery Products
--It was only petroleum refinery production (weight of 5.94% in the IIP) that increased by 7.5% in June 2015, over June 2014.
--In cumulative terms, the growth of petroleum refinery production during April to June 2015, increased by 4.2% over the corresponding period of previous year.
(Click on Details for more information) Details
ONGC is another company that had lost money on account of shoddy contract related decisions
8Deal with Clough Engineering was faulty: Avoidable assumption of liabilities and incurring avoidable expenditure of USD 215.25 million development of two oil and gas bearing fields -- deepwater field G-1 and shallow water field GS-15 -- due to acceptance of unfavourable terms in Settlement Agreement with a defaulting contractor, Clough Engineering Limited, Australia. Because of delay in work, ONGC entered into a Settlement Agreement with the defaulting contractor without conducting due diligence whereby it obtained a reduction of only USD 0.7 million while it ended up paying a settlement sum USD 32 million, besides incurring additional expenditure of USD 66.34 million ( Rs 342.34 crore) in implementing the agreement in deviation of the approval accorded by its Board in October 2008.
The expenditure (Rs 342. 34 crore) was irregular as it did not have approval of the Board and was not in the financial interests of ONGC. In addition, ONGC incurred an avoidable expenditure of USD 13.7 million (`Rs 63.79 crore) on payment of rental for tools which was included in the amount paid for the work completed by the contractor under the already terminated contract. The project for development of the oil and gas fields remained incomplete (January 2015) as against the revised target date of April 2010 while projected revenues of Rs 1,500 crore per annum remained unrealised (January 2015).
8Under-utilization of Water Injection Platform despite revamping in Mumbai High: The CAG has also been critical of the anomalies involving the Water Injection platform (WIN) commissioned in 1984 with the main water injection hub in Mumbai High North field. Non-synchronization of WIN revamping project with repair/ replacement of its associated pipelines and delay in overhauling of Main Injection Pumps led to non-achievement of the designed water injection capacity even after incurring an expenditure of Rs 726.50 crore.
Click on our Reports section to download the report. Details
8Deal with Clough Engineering was faulty: Avoidable assumption of liabilities and incurring avoidable expenditure of USD 215.25 million development of two oil and gas bearing fields -- deepwater field G-1 and shallow water field GS-15 -- due to acceptance of unfavourable terms in Settlement Agreement with a defaulting contractor, Clough Engineering Limited, Australia. Because of delay in work, ONGC entered into a Settlement Agreement with the defaulting contractor without conducting due diligence whereby it obtained a reduction of only USD 0.7 million while it ended up paying a settlement sum USD 32 million, besides incurring additional expenditure of USD 66.34 million ( Rs 342.34 crore) in implementing the agreement in deviation of the approval accorded by its Board in October 2008.
The expenditure (Rs 342. 34 crore) was irregular as it did not have approval of the Board and was not in the financial interests of ONGC. In addition, ONGC incurred an avoidable expenditure of USD 13.7 million (`Rs 63.79 crore) on payment of rental for tools which was included in the amount paid for the work completed by the contractor under the already terminated contract. The project for development of the oil and gas fields remained incomplete (January 2015) as against the revised target date of April 2010 while projected revenues of Rs 1,500 crore per annum remained unrealised (January 2015).
8Under-utilization of Water Injection Platform despite revamping in Mumbai High: The CAG has also been critical of the anomalies involving the Water Injection platform (WIN) commissioned in 1984 with the main water injection hub in Mumbai High North field. Non-synchronization of WIN revamping project with repair/ replacement of its associated pipelines and delay in overhauling of Main Injection Pumps led to non-achievement of the designed water injection capacity even after incurring an expenditure of Rs 726.50 crore.
Click on our Reports section to download the report. Details
Bharat Petroleum Corporation Limited is planning to install two storage vessels having capacity of 300 MT in its Wai LPG Bottling plant at Satara, Maharashtra.
8The existing LPG bottling plant has three storage vessels, each with a capacity of 150 MT, which adds up to 450 MT. Total capacity after the expansion will be 1050 MT.
8The LPG plant is a limited capacity unit in Maharashtra, and it cater to Satara , Sangle Kholapur revenue districts of Southern Maharashtra and feeds approximately 100 distributors with a consumer base of around 7.50 Lakhs.
8The Wai LPG Plant receives bulk LPG predominately from Uran LPG plant and MRPL Mangalore.
8The necessary consent for establishment (CFE) from the Maharastra State Pollution Control Board has been already obtained.
Click on reports for more. Details
8The existing LPG bottling plant has three storage vessels, each with a capacity of 150 MT, which adds up to 450 MT. Total capacity after the expansion will be 1050 MT.
8The LPG plant is a limited capacity unit in Maharashtra, and it cater to Satara , Sangle Kholapur revenue districts of Southern Maharashtra and feeds approximately 100 distributors with a consumer base of around 7.50 Lakhs.
8The Wai LPG Plant receives bulk LPG predominately from Uran LPG plant and MRPL Mangalore.
8The necessary consent for establishment (CFE) from the Maharastra State Pollution Control Board has been already obtained.
Click on reports for more. Details
Despite the upheaval in the global oil and gas market, the LPG carriers market continues to remain strong.
8Time charter rates have shown a sharp upswing in the Midsize and the VLGC segments on account of heavy demand for LNG from China and India.
8The VLGC segment has seen firmer rates and the outcome is more favourable due to lower bunker prices
8Despite substantial new tonnage being delivered, this segment is likely to remain firm this year because of strong demand.
8For pressurized vessels, the market however is likely to be difficult, particularly in smaller size range, due to oversupply of tonnage.
8In the Far East, demand for shipping has been negatively impacted by the growth of land based PDH (propane dehydrogenation) processing plants in China which are used for local petrochemical production.
Click on Reports for more. Details
8Time charter rates have shown a sharp upswing in the Midsize and the VLGC segments on account of heavy demand for LNG from China and India.
8The VLGC segment has seen firmer rates and the outcome is more favourable due to lower bunker prices
8Despite substantial new tonnage being delivered, this segment is likely to remain firm this year because of strong demand.
8For pressurized vessels, the market however is likely to be difficult, particularly in smaller size range, due to oversupply of tonnage.
8In the Far East, demand for shipping has been negatively impacted by the growth of land based PDH (propane dehydrogenation) processing plants in China which are used for local petrochemical production.
Click on Reports for more. Details
IOCL is planning to engage consultant that will help create a Corporate Strategy Cell (CSC) which will provide strategic direction for sustained growth amidst in the context of the constantly evolving global energy business.
The changes are so quick, both in terms of technology and markets, that corporates are often left grasping for breath
8The strategy cell will be responsible for the conducting adequate research into economic and industrial trends in the market and suggest remedies to problems that may arise out of market forces working in a countervailing manner.
8In addition to that, the cell will provide the necessary assessment of competitive environment and scenario building.
8The whole exercise would be carried out in three phases:
-- Mapping, Gap identification, structure and processes formation phase, involving a period of three months.
-- Setting up the CSC, which will take two months period.
-- Handholding phase for seven additional months.
Click on Reports for more. Details
The changes are so quick, both in terms of technology and markets, that corporates are often left grasping for breath
8The strategy cell will be responsible for the conducting adequate research into economic and industrial trends in the market and suggest remedies to problems that may arise out of market forces working in a countervailing manner.
8In addition to that, the cell will provide the necessary assessment of competitive environment and scenario building.
8The whole exercise would be carried out in three phases:
-- Mapping, Gap identification, structure and processes formation phase, involving a period of three months.
-- Setting up the CSC, which will take two months period.
-- Handholding phase for seven additional months.
Click on Reports for more. Details
Hydrocarbon Segment recorded Customer Revenue of Rs 2207 crore registering a y-o-y growth of 42% over Rs 1557 crore during the corresponding quarter of the previous year, on the back of progress on Upstream domestic jobs under execution. International revenue constituted by the company is 50% of the total customer revenue of the segment during the quarter ended June 30, 2015.
8But the situation does not look very bright going ahead. And this is because orders are now slowing down because of low crude and gas prices, as a result of which operators are cutting down on capital expenditure.
8This is evident from the fact that the hydrocarbon division of the company secured new orders valued Rs. 3475 crore during the quarter ended June 30, 2015, registering a y-o-y decline of 39% over the corresponding quarter of the previous year.
8The order inflow for the quarter ended June 30, 2014 had included a large sized international order. But even then the point to note is that international orders during the quarter ended June 30, 2015 constituted just 8% of the total order inflow of the segment. What is more, the there are significant under recovery of costs in the international segment on account of heavy competition and tight margins accruing to operators.
8The company's dependency on the domestic segment is very heavy and there is a marked slowing down of orders in E&P segment on account of low prices.
8The EBIDTA margin of the segment turned positive at 4.2% for the quarter ended June 30, 2015 aided by margin accruals on the domestic jobs under execution, despite continuing under recovery of cost in international operations. But it will be tough for the company to maintain positive flows going ahead unless overall investment climate improves in the oil and gas business overall.
Click on Reports for more. Details
8But the situation does not look very bright going ahead. And this is because orders are now slowing down because of low crude and gas prices, as a result of which operators are cutting down on capital expenditure.
8This is evident from the fact that the hydrocarbon division of the company secured new orders valued Rs. 3475 crore during the quarter ended June 30, 2015, registering a y-o-y decline of 39% over the corresponding quarter of the previous year.
8The order inflow for the quarter ended June 30, 2014 had included a large sized international order. But even then the point to note is that international orders during the quarter ended June 30, 2015 constituted just 8% of the total order inflow of the segment. What is more, the there are significant under recovery of costs in the international segment on account of heavy competition and tight margins accruing to operators.
8The company's dependency on the domestic segment is very heavy and there is a marked slowing down of orders in E&P segment on account of low prices.
8The EBIDTA margin of the segment turned positive at 4.2% for the quarter ended June 30, 2015 aided by margin accruals on the domestic jobs under execution, despite continuing under recovery of cost in international operations. But it will be tough for the company to maintain positive flows going ahead unless overall investment climate improves in the oil and gas business overall.
Click on Reports for more. Details
Company is very pleased with the performance of the Ravva block which has performed exceptionally well during the quarter.
8The block achieved gross average production of 28,556 boepd during first quarter (FY 2016) as compared to 23,940 boepd during first quarter (FY2015).
8Average production comes out to be 19% higher on year on year basis.
8The initiatives which aided the increased production are as follows:
-- Application of 4D seismic technology,
-- Infill drilling programs,
-- Contribution from RE-6 exploration well.
8Cambay's gross average production during the Q1 FY2016 stood at 8,958 boepd as compared to 10,765 boepd which is lower by 17% quarter on quarter basis.
8Though the field is in natural decline, a successful well intervention campaign carried out during the quarter helped improve the production from the operating wells, thereby arresting the decline rate.
8Planned production curtailment in April was on account of pipeline cleaning operations.
Click on Reports for more. Details
8The block achieved gross average production of 28,556 boepd during first quarter (FY 2016) as compared to 23,940 boepd during first quarter (FY2015).
8Average production comes out to be 19% higher on year on year basis.
8The initiatives which aided the increased production are as follows:
-- Application of 4D seismic technology,
-- Infill drilling programs,
-- Contribution from RE-6 exploration well.
8Cambay's gross average production during the Q1 FY2016 stood at 8,958 boepd as compared to 10,765 boepd which is lower by 17% quarter on quarter basis.
8Though the field is in natural decline, a successful well intervention campaign carried out during the quarter helped improve the production from the operating wells, thereby arresting the decline rate.
8Planned production curtailment in April was on account of pipeline cleaning operations.
Click on Reports for more. Details
A 45% drop in revenue -- from $ 748 million to $ 413 million in Q1 FY 2016 -- and a consequent 61% fall in EBITA -- from $549 million to $ 215 million -- on account of falling crude price has forced Vedanta Resources Plc (into which Cairn India Ltd has been merged) to focus on enhancing efficiencies and renegotiating high value contracts to allow more room for maneuver.
8The company's flagship Rajasthan block produced 15.7 million barrels of oil equivalent during the quarter at an average of 172,224 boepd and the cumulative total production from the block is 297 mmboe to the end of Q1 FY2016.
8Initiatives like reservoir managements and dedicated production optimization have also aided production across the Rajasthan Block.
Polymer injection to be ramped up
8As a part of the enhanced oil recovery program (EOR) in the Mangla field, polymer injection was ramped up during the quarter, and simultaneously field development plan (FDP) was submitted to the JV partner for employing EOR at Bhagyam.
FDP for Barmer Hill to be submitted shortly
8In addition to that the development concept for the Aishwariya Barmer Hill -- where additional potential is available -- is also finalized and the FDP will be submitted shortly (see our earlier reports on the subject).
8Under the Aishwariya infill project, out of the total 20 planned infill wells, 6 were brought online during the quarter.
8Moreover, the gas development in the Raageshwari Deep Gas (RDG) field in Rajasthan is progressing well and work on the execution, planning and contracting is underway
Gas production to scale 25 mmscfd in FY 2016
8Although the production from the existing facilities during the first quarter was up by 20% to 19 mmscfd and is expected to increase to 25 mmscfd during FY 2016.
8Lastly, the average water-flood opex at Rajasthan was down to USD 5.2/boe, compared to USD 5.8/boe in FY2015.
Click on Reports for more. Details
8The company's flagship Rajasthan block produced 15.7 million barrels of oil equivalent during the quarter at an average of 172,224 boepd and the cumulative total production from the block is 297 mmboe to the end of Q1 FY2016.
8Initiatives like reservoir managements and dedicated production optimization have also aided production across the Rajasthan Block.
Polymer injection to be ramped up
8As a part of the enhanced oil recovery program (EOR) in the Mangla field, polymer injection was ramped up during the quarter, and simultaneously field development plan (FDP) was submitted to the JV partner for employing EOR at Bhagyam.
FDP for Barmer Hill to be submitted shortly
8In addition to that the development concept for the Aishwariya Barmer Hill -- where additional potential is available -- is also finalized and the FDP will be submitted shortly (see our earlier reports on the subject).
8Under the Aishwariya infill project, out of the total 20 planned infill wells, 6 were brought online during the quarter.
8Moreover, the gas development in the Raageshwari Deep Gas (RDG) field in Rajasthan is progressing well and work on the execution, planning and contracting is underway
Gas production to scale 25 mmscfd in FY 2016
8Although the production from the existing facilities during the first quarter was up by 20% to 19 mmscfd and is expected to increase to 25 mmscfd during FY 2016.
8Lastly, the average water-flood opex at Rajasthan was down to USD 5.2/boe, compared to USD 5.8/boe in FY2015.
Click on Reports for more. Details
