OIL launches seismic campaign in Mahanadi
New Delhi: State-owned Oil India Ltd (OIL) on Friday launched a Rs 220 crore seismic campaign to locate oil and gas in the Mahanadi basin in Odisha, as it is boosting the country's hydrocarbon resource base.
Oil Minister Dharmendra Pradhan inaugurated the seismic survey campaign at Kakatpur in Puri District (Odisha), the company said in a statement.
OIL had won five blocks for hydrocarbon exploration in Odisha in two bid rounds under Open Acreage Licensing Policy (OALP).
"OIL plans to acquire, process and interpret 1,502 line-kilometres of 2D seismic data and 1670 square kilometres of 3D seismic data in the five blocks," it said. "Interpretation of the data is envisaged to lead to an extensive exploratory drilling campaign, in quest of establishing hydrocarbon reserves."
The total envisaged expenditure on the entire exploration campaign in the five blocks in Mahanadi Basin (Onshore) is Rs 1,248.00 crore of which Rs 220.00 crore is for seismic survey.
The blocks are spread in eleven districts of Odisha namely Puri, Khurda, Cuttack, Jagatsingpur, Kendrapara, Dhenkanal, Jajpur, Bhadrak, Baleshore, Maurbhanj and Keonjhar.
The company has been actively participating in the OALP rounds in an endeavour to intensify exploration.
OIL has been awarded a total of 25 blocks, making it the second-largest winner of exploration blocks under OALP.
A total of 8,215 line-km 2D and 5,884 sq km 3D seismic survey and 73 exploratory wells are planned in these 25 blocks.
"The envisaged investment is to the tune of Rs 5,400 crores over the next three to four years," the statement said. "Apart from consolidating its position in northeast and Rajasthan, OIL has made conscious efforts to carry out exploration in Category II & III sedimentary basins in line with
Government of India's thrust for exploration."