No news from Iran for Oil India's FARSI block

Vol 5, PW 13 (15 Aug 01) Exploration & Production

Oil India (OIL) is still waiting for news from Iran, where it has bid for the FARSI exploration block alongside ONGC Videsh and Indian Oil.

Oil India hopes to acquire a 20% interest, with the balance held equally by ONGC Videsh and Indian Oil. The bid was submitted in January this year.

"We have yet to hear from NIOC (National Iranian Oil Company)," reveals a source. "They have not finalised the bids.

We don't know who are our competitors. This report learns Oil India is ready to invest $6m during the exploration phase.

Separately, an internal note prepared by Oil India this month lists its future plans and northeast India continues to be the company's focus, despite threats by armed separatist groups in the region. See below.

"Continue exploratory drilling in the deeper prospects in the south bank of the river Brahmaputra, in view of the recent discoveries in Hapjan, Shalmari and Moran areas. 2D seismic surveys in rivers, riverine terrain, swampy and marshy areas, rugged hilly terrain in the Belt of Schuppen and nearby township areas in northeastern India.

Obtain in-depth information of the complete Upper Assam basin by identifying the stratigraphic prospects and exploration plays in the thrust belt areas. Exploratory drilling on a priority basis in a few major structures in Upper Assam.

Exploratory activities on the north bank of the river Brahmaputra on the basis of drilling results of five wells, geoscientific assessment and leads obtained. Multi-disciplinary study for revitalisation of old depleting fields by integrating 3D seismic data to identify areas of less drained/bypassed oil, take up infill wells, redistribute water injection and other enhanced oil recovery methods to improve recovery.

Drilling parametric wells and carrying out a 3D survey at Digboi to gather sub-surface geological, reservoir and reservoir fluid characteristics. Development of non-associated/associated gas reservoirs in Assam to supply additional gas requirements of existing customers as well as commitments to new customers.

Further exploration and development of gas reserves in Rajasthan's Jaisalmer Basin. 3D seismic survey of Cauvery offshore block CY-OSN-97/2."