Oil India Ltd (OIL) launched a Rs 220 crore seismic campaign to locate oil & gas in the Mahanadi basin in Odisha. Petroleum Minister Dharmendra Pradhan inaugurated the seismic survey campaign at Kakatpur in Puri District, Odisha. They 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. Interpretation of the data is envisaged to lead to an extensive exploratory drilling campaign, in quest of establishing hydrocarbon reserves” company said in a statement.
The total envisaged expenditure on the entire exploration campaign in the five blocks in Mahanadi Basin (Onshore) is Rs 1,248 crore of which Rs 220 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.
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. 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” the statement said.
