Oil India talks to 65 companies in Abu Dhabi
Unlike the last roadshow in Delhi, Oil India received a good response last month (February 2024) to its roadshow in Abu Dhabi's Sheraton Hotel.
On February 28 and 29 (2024), about 65 companies attended to hear Oil India chairman Ranjit Rath, director exploration Manas Sharma and director operations Pankaj Goswami outline business opportunities available as it gears up to increase oil and gas production. Among the participating companies were drillers Dynamic Drilling, Borr Drilling, Shelf Drilling, Dolphin Drilling, Foresight Offshore, and Ocean Oilfield.
In addition, Schlumberger, Halliburton, Baker Hughes, NOV, Stream-Flo, B Vishal, Helmerich & Payne, Aberdeen Drilling School, Udipta Energy, HAL Offshore, Norway's Fishbones, Saudi Arabia's Tendeka and other service and equipment providers were present. "We expected 25 to 30 companies, but the response exceeded expectations," a senior Oil India source tells us.
"Many companies wanted to know about our plans for deepwater exploration, particularly in the ongoing OALP-9 licensing round." He adds that in OALP-9 (launched on January 3, 2024, with a May 15, 2024 bid deadline for 28 blocks), Oil India is interested in bidding for deepwater acreage around the Andaman Islands, where it is currently planning to drill at least three exploration wells at its two OALP-2 blocks: 3669.25-sq km AN-OSHP-2018/1 and 5947.55-sq km AN-OSHP2018/2.
On February 28 (2024), Oil India bosses made presentations about its annual and five-year procurement plans and targets to increase hydrocarbon production from 2025-26. On February 29 (2024), Oil India held one-to-one business meetings with participants.
In the immediate future, Oil India is hoping this roadshow will attract bids from drillers offering a single rig to drill at one DSF-2 block in KG offshore shallow waters, KG/OSDSF/GSKW/2018, and at one OALP-3 block in the Kerala Konkan basin, KK-OSHP-2018/3. Oil India has unsuccessfully tried to hire a rig for nearly a year.
At KG/OSDSF/GSKW/2018, Oil India wants a mat-supported rig to drill four development wells to 3500 metres TD in water depths of up to 10 metres. At location OKKA at KK-OSHP-2018/3, Oil India wants to drill one exploration well in water depths of 63 metres to 5500 metres TD in the Kerala-Konkan basin.