OIL COMMENCES 2D VIBROSEIS SEISMIC SURVEY OPERATIONS IN ITS Rajasthan’s Siyasar block

Sarkaritel
By Sarkaritel November 20, 2019 19:33

OIL COMMENCES 2D VIBROSEIS SEISMIC SURVEY OPERATIONS IN ITS Rajasthan’s Siyasar block


New Delhi, Nov 20 Oil India Limited, India’s second largest National Exploration & Production (E&P) Company announces the commencement of exploration activities including seismic survey data acquisition in Rajasthan’s Siyasar block RJ-ONHP-2017/9 won under OALP-I round, on 20.11.2019. The block falls under Bikaner and Ganganagar District of Rajasthan. With this, OIL becomes the first operator to begin the exploration activities under the committed work programme (CWP) in an OALP regime block in the country.

Ministry of Petroleum and Natural Gas (MoP&NG) under Government of India has undertaken wide gamut of path breaking reforms in the past five years in the E&P sector including Open Acreage Licensing Policy (OALP) along with the National Data Repository (NDR) being launched in June 2017. OIL has been awarded total of Twenty one (21) exploration blocks under OALP-I, II, III and IV rounds.

The revenue sharing contract of the above mentioned block was signed on 01.10.2018 while the Petroleum Exploration License (PEL) of the block was awarded by the Govt. of Rajasthan on 27.05.2019 for a period of 3 years

Sarkaritel
By Sarkaritel November 20, 2019 19:33