Shri Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel,today online inauguratedthe seismic survey campaign of Oil India Limited (OIL)at Kakatpurin Puri District, Odishain the Mahanadi Basin (Onland).
Government of India since 2014 has launched a number of policy reforms in hydrocarbon E&P sector, chief among them being Open Acreage Licensing Policy (OALP). The Government also is implementingthe National Seismic Programme (NSP) for appraising unappraised areas of Indian sedimentary basins. Seismic data acquired under NSP in the state of Odisha led to offer of five blocks by DGH andOIL wonall the five blocks for hydrocarbon exploration under OALP-II and III rounds.
OIL plans to acquire, process and interpret 1502 LKM of 2D seismic data and 1670 SqKm of 3D seismic data in the five blocks. Interpretation of the data is envisaged to lead to an extensive exploratory drilling campaign, in quest of establishing hydrocarbon reservesin line with the vision of Hon’ble Prime Minister of Atmanirbhar Bharat.
The company has been actively participating in the OALP rounds in an endeavor to intensify exploration. OIL has been awarded a total of 25 blocksmaking it the second largest winner of exploration blocks under OALP. A total of 8215 LKM 2D &5884 Sq. Km. 3D seismic survey and 73 exploratory wells are planned in these 25 blocks. The envisaged investment is to the tune of Rs. 5400 crores over the next three to four years.
Shri Pradhan congratulated the OIL India for this initiative, expressing the hope that this will help the company in having better success rate in exploration of the reserves.