OIL presently has a goal to provide 4 million metric tonnes of crude oil per 12 months. | File picture
State-owned exploration and manufacturing firm Oil India Restricted (OIL) is focusing on the drilling of greater than 75 wells through the ongoing monetary 12 months (FY25), as a part of its new drilling program, OIL Chairman and Managing Director (CMD) Ranjit Rath stated on Saturday.
The corporate had drilled 38, 45, and 61 wells within the last-three years, respectively, Rath stated at a post-AGM press convention right here.
“From 45 to 61 wells, it represents a 35 per cent annual development. Additionally, this represents not solely the variety of wells however deeper and extra advanced wells,” Rath stated.
“Within the final two years, we have now been rising at 5-6 per cent by way of crude oil and pure fuel manufacturing. That is on high of a pure decline (in current manufacturing) of 12 per cent. So, the web development is 6 per cent, gross development is eighteen per cent,” Rath stated.
OIL presently has a goal to provide 4 million metric tonnes of crude oil per 12 months.
“The Assam shelf contains big stacks of sand reservoirs. The south financial institution of the Brahmaputra River offers us sufficient alternative to discover, and produce,” Rath stated.
Within the area, OIL is the one participant which has tried via a near-surface exploration program inside the petroleum mining lease. It’s utilizing multilateral wells, radial drilling and prolonged attain drilling methods, for which excessive powered drilling rigs are required.
“We proceed to keep up the reserve-replace ratio at roughly one,” Rath stated.
He added the corporate is producing oil and fuel from deeper wells, at common depths of 3000-4500 metres, a lot beneath the 2000-3500 metres depth earlier. Because of this, the corporate has prioritised having access to rigs.
“In a primary, we evaluated a seven-rig bid in simply 48 hours, to have a turnaround. If we do not have rig rely, we will not have deep exploration and growth,” he harassed.
The corporate wants extra rigs for wells akin to one the place it plans to dig down to six,500 metre, the deepest within the north jap a part of the nation.
The corporate is finding out the potential of everlasting carbon sequestration in its oil fields in Rajasthan.
NRL growth
The continuing unrest in Bangladesh has additionally not slowed the method of the continuing growth of the Numaligarh refinery, Rath stated.
The corporate is focusing on the commissioning of the expanded Numaligarh Refinery by December, 2025. To assemble a refinery in Numaligarh, loads of overdimensioned cargo must be shipped. Cargo is presently being shipped from the Haldia port in West Bengal, following the riverine movement alongside the worldwide water treaty-based boundary to the Brahmaputra River, after which right into a tributary river referred to as Dhansiri earlier than it reaches the refinery web site.
The three metric tonnes every year (MMTPA) refinery in Higher Assam is present process a serious capability augmentation to 9 MMTPA by putting in a 6 MMTPA capability refinery and related crude oil terminals and pipeline contemplating processing of Arab Mild(AL) and Arab Heavy (AH) crude oil. The venture additionally features a 1,635 km crude oil trunk line from the Paradip port in Odisha to Numaligarh in Higher Assam, to move 5.5 million tonnes of crude.
Each the tasks are built-in and will probably be accomplished as a part of a staged mechanical completion and staged pre-commissioning course of, Rath stated. Full scale manufacturing will happen in FY27 (2026-27).
However, whereas the 130-km-long Indo-Bangla Friendship Pipeline (IBFPL) pipeline continues to hold excessive velocity diesel from Numaligarh Refinery Restricted (NRL) in Assam to Bangladesh, solely 4,000-odd tonnes of crude is presently shifting within the 1 million tonne capability pipeline, Rath stated.
First Printed: Sep 14 2024 | 5:51 PM IST