Undertook seismic studies of blocks acquired from earlier round to chart bidding strategy for OALP-X, Oil India Chief

Oil India undertook seismic study of the blocks it was awarded during the ninth round of the Open Acreage Licensing Policy (OALP) to chart a bidding strategy for the tenth round, Chairman & Managing Director Ranjit Rath told The Hindu at the sidelines of the India Energy Week in Goa earlier this week.

Oil India undertook seismic study of the blocks it was awarded during the ninth round of the Open Acreage Licensing Policy (OALP) to chart a bidding strategy for the tenth round, Chairman & Managing Director Ranjit Rath told The Hindu at the sidelines of the India Energy Week in Goa earlier this week.

“As we speak, 2D seismic acquisition is complete. We had planned this much before,” he stated, adding, “We have also completed 36% of the 3D seismic [study] alongside petroleum system modelling study of the basins as part of our in-house study, analysis of locations and [to chart] a bidding strategy,” he said.

“Now, we are now looking at OALP Round-X and would be submitting bids [accordingly],” he emphasised.

For context, Maharatna had submitted bids for 9 blocks, standalone and in joint ventures, and won all in the erstwhile OALP round. This expanded their acreage by more than 51,000 square kilometres to 110,000 square kilometres.

The company had received blocks in Assam Shelf basin, Mahanadi basin, Krishna Godavari basin and debuted in the Cambay basin.

Further, in response to a query about exploration targets, Mr. Rath informed the explorer is targeting to cross 80 wells this year, and 100 the next year.