Oil India sets aside $179m for recovery projects

Vol 5, PW 26 (27 Feb 02) Exploration & Production
     

OIL INDIA IS increasingly concerned at falling production from its oil and gasfields.

PETROWATCH learns it is so worried that it has earmarked an investment of Rs860cr ($179m) over the next five years (during its 10th five-year plan from 2002-2007) onImproved Oil Recovery and Enhanced Oil Recovery projects for its oil and gasfields. Contrast this with past investment on IOR and EOR schemes, where until April 2001, Oil Indiainvested only Rs130cr in recovery schemes for 23 of its 35 reservoirs.

Its focus today is on the remaining 12 reservoirs, which will see recovery schemes over the next five years. How much oil is likely to be recovered Oil India hopes for 16.2m tonnes incremental recovery over the next 15 years - a stiff target for any new chairman who replaces B.

B Sharma when he retires in May. Other targets set by Oil India for the next five years are: accretion of 110m tonnes of oil in place (including oil equivalent gas); improvement of recovery factor beyond 35%; increase in exploration and production through NELP or joint ventures in India and overseas; and upgrade of technology to operate in difficult terrain.

Breakdown of Oil India's reserves in Assam, Arunachal Pradesh and Rajasthan Oil Gas Assam &Arunachal Pradesh Rajasthan Total Assam & Arunachal Pradesh Rajasthan Total In place reserves 604.53m tonnes 14.60m tonnes 619.13m tonnes 207.82bn cubic metres 9.29bn cubic metres 217.11bn cubic metres Gross ultimate recovery 185.56m tonnes 2.19m tonnes 187.75m tonnes 142.05bn cubic metres 3.16bn cubic metres 145.21bn cubic metres Balance recoverable reserves 71.23m tonnes 2.19m tonnes 73.42m tonnes 93.11bn cubic metres 2.85bn cubic metres 96.16bn cubic metres