India: The Oil & Gas: Ezine April 2016

Last Updated: 11 October 2016
Article by Alaya Legal

OneSubsea has announced successful commission of Subsea Boosting Systems in the Gulf of Mexico

April 04, 2016

OneSubsea, a Schlumberger company has come up with a subsea boosting systems installed in ultra deep waters, located in the Gulf of Mexico. This system helps in cost effective recovery from the reservoirs. It has been installed at a depth of 7000 ft. and consists of 3 retrievable single phase pumps of 3.0 MW each.

Lula Alto oilfield put into production

April 12, 2016

Lula Alto pre-salt oilfield of Sinopec Corporation Brazil's PB project was put into production. The Lula Alto oilfield is situated in the middle part of Lula oilfield in the BM-S-11 block of Santos Basin and it produces 30,000 barrels per day of crude oil and 1 million cubic meters of natural gas per day.

Production started at Julia Oil Field in the Gulf of Mexico by ExxonMobil

April 19, 2016

According to Exxon Mobil Corporation oil production has started at the Julia oil field in the Gulf of Mexico. The first production well is now operative and a second well will start production in the coming weeks.

The Julia field was discovered in 2007 and it comprises five leases in the ultra-deep water Walker Ridge area of the Gulf of Mexico. ExxonMobil, the operator, and Statoil Gulf of Mexico LLC each hold a 50 percent interest in the Julia unit.

ExxonMobil has started production at Point Thomson

April 22, 2016

ExxonMobil's first company-operated project in Alaska's North Slope- Point Thompson project tarted with production operations. Central pad facilities are designed to initially produce about 5,000 barrels per day of condensate and 100 million standard cubic feet per day of recycled gas. The recycled gas is re-injected for future recovery. At its maximum rate of production, the facility is designed to produce up to 10,000 barrels per day of natural gas condensate and 200 million cubic feet of recycled gas.

Schlumberger to acquire Coiled Tubing Drilling Units from Xtreme Drilling and Coil Services Corporation

April 27, 2016

Schlumberger has entered into an agreement with Xtreme Drilling and Coil Services Corporation for the acquisition of coiled tubing drilling and coiled tubing units. Xtreme currently owns a fleet of 11 coiled tubing units located in Saudi Arabia and the United States. The transaction is subject to customary closing conditions.

ONGC has executed under balance drilling for the first time in India

May 12, 2016

For the first time in India, ONGC has successfully executed Under Balance Drilling (UBD). The UBD project has been put into effect at the Heera and Mumbai High fields. The UBD facilities are highly efficient as they result in zero damage to formation and real time monitoring of reservoir behaviour which results in improved decision making.

British Petroleum (BP) has started up major project at its largest Gulf of Mexico platform

May 25, 2016

In order to increase the production life of the Gulf of Mexico, BP has started up a major water injection project at its Thunder Horse platform. This latest addition will boost recovery of oil and natural gas from one of the Thunder Horse field's three main reservoirs.

From those wells, water will be injected into the reservoir to increase pressure and enhance production. The improvements are expected to allow the Thunder Horse facility to recover an additional 65 million barrels of oil equivalent over time.

Sinopec's Diesel Hydrogenation Technology won bidding of Brunei project

May 24, 2016

Sinopec's continuous liquid phase diesel hydrogenation technology which has independent intellectual property rights won the bidding of a PMB project of Hengyi Industries Sdn Bhd in Pulau Muara Besar, Brunei. The production of the PMB project with a 2.2 million tonnes/year diesel hydrogenation unit is planned to be put in course by 2018.

The diesel hydrogenation technology developed by Sinopec is a unique combination of a process with dedicated catalyst, having the advantages of low energy consumption and investment, good effect, and long-period stable operation.

Reliance entered into agreements for the sale of its interest in Gulf Africa Petroleum Corporation to Total

May 31, 2016

Reliance Exploration & Production DMCC (REPDMCC), which is a subsidiary of Reliance Industries Limited (RIL) and Total, has executed agreements on May 30, 2016 for the sale of the interest held by REPDMCC in the Mauritius- incorporated Gulf Africa Petroleum Corporation (GAPCO). GAPCO is a holding company with several operating subsidiaries in Tanzania, Kenya and Uganda which primarily deal with import of petroleum products and trading, storage, distribution, marketing, supply and transportation of oil products in East Africa. REPDMCC had also acquired 76% equity interest in GAPCO in 2007.

GAIL has started drilling another well for exploration

May 31, 2016

GAIL India has started drilling its second exploratory well in Nabhoi village of Anand District in Gujarat. It plans to complete drilling up to 2200 metres deep within a period of 35 days from the commencement date. The well is situated in the IX Block of the Cambay Basin.

ONGC Videsh signed MOU with SOCAR Trading

June 01, 2016

ONGC Videsh Limited and SOCAR Trading SA signed a MoU on May 27, 2016 at Geneva. The Objective of the MoU is to explore possibilities of Joint Marketing of ONGC Videsh's crude oil portfolio by leveraging SOCAR Trading's experience in oil trading. Initially, both parties agreed to initiate discussion on Joint Marketing Agreement in respect of ONGC Videsh's equity crude from ACG, Azerbaijan and based on the performance of this agreement both parties will mutually agree to optimise price realisation of other crudes from ONGC Videsh's portfolio either through Joint Marketing or Joint Venture route.

Oil India Limited, along with IOCL and BPRL signed definitive agreement to acquire up to 23.9% shares from Rosneft Oil Company in JSC Vankorneft

June 17, 2016

Indian Consortium, led by Oil India Limited (OIL), along with, Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited (BPRL), a 100% subsidiary of Bharat Petroleum Corporation Limited (BPCL), signed definitive agreement to acquire up to 23.9% shares from Rosneft Oil Company (Rosneft), NOC of Russia in JSC Vankorneft, a company organised under the law of Russian Federation which is the owner of Vankor and North Vankor Field licenses. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by September 2016.

GAIL has placed order for 341 km of Line Pipes for Phulpur-Haldia/ Dhamra Pipeline

June 22, 2016

GAIL (India) Limited has placed orders for purchase of 341 km of Line Pipes for the Phulpur – Haldia/Dhamra Natural Gas Pipeline on four companies at a total cost of INR 550 crore. The Pipeline will serve as the Energy Highway (Urja Ganga) of Eastern India. The Line Pipes for which the orders have been placed will be used in the Phulpur (Uttar Pradesh) – Dobhi (Bihar) section of the Pipeline and will be procured from Jindal Saw Limited, MAN Industries (India) Limited, Essar Steel India Limited and Zhongyou BSS (Qinhuangdao) Petropipe Co. Ltd, China. The 1,681 km Phulpur ¬ Haldia/Dhamra Pipeline will be completed in three phases at a cost of INR 12,000 crore and cover eastern Uttar Pradesh, Bihar, Jharkhand, Orissa and West Bengal.

Chevron approved next major Tengiz expansion project in Kazakhstan

July 05, 2016

Chevron Corporation announced that its 50 percent owned affiliate, Tengizchevroil (TCO), will proceed with the development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP), which will increase crude oil production at the Tengiz oil field in Kazakhstan by about 260,000 barrels per day.

Chevron and JOVO signed LNG Agreement

July 20, 2016

Chevron Corporation announced that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a Key Terms Agreement with Singapore Carbon Hydrogen Energy Pte. Ltd., a subsidiary of JOVO, for the delivery of liquefied natural gas (LNG) from Chevron's global supply portfolio. When the LNG Sale and Purchase Agreement is finalized, JOVO is expected to receive up to 0.5 million metric tons per annum of LNG over five years, with the first delivery expected to arrive in 2018.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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