ONGC Videsh Limited ::. The International Petroleum Company of India

CIS & Far-East
Middle East
Africa
Latin America

Myanmar Block A-1 : Block A-1 presently extends over an area of 2,129 sq km of Rakhine Coast in Arakan offshore in north-western Myanmar. OVL acquired stake in the Block in April, 2002. The Company holds 20% PI in the Block, GAIL (India) Limited holds 10% PI, Daewoo International Corporation of Korea as the operator holds 60% PI and KOGAS of Korea holds the balance 10% PI. Commercial quantity of natural gas has been discovered in two of the fields, Shwe and Shwe Phyu, in the Block. The Shwe and Shwe Phyu field appraisals have been completed by the consortium and the Initially In-Place reserves certified by an independent firm for the Shwe and Shwe Phyu gas fields are 3.83 TCF. So far, a total of 17 wells have been drilled in the block, out of which 9 wells are gas bearing. FDP preparation of Shwe and Shwe Phyu gas fields is currently in progress.
Block A-3 : Block A-3, the adjacent block of Block A-1, covers presently an area of 3441 sq km with bathymetry up to 1,500 meters in the Rakhine offshore. OVL acquired 20% PI in the Block on 24th March, 2006. The Company is participating in the Block along with Daewoo International Corporation who is the operator with 60% PI, GAIL and KOGAS with 10% PI each. Acquisition and Interpretation of 1000 Sq Km of 3D Seismic data and drilling of well Thandar#1 was completed during 2008-09. So far six exploratory wells were drilled in this Block out of which three are gas bearing. Commercial quantity of natural gas has been discovered in one field viz., Mya and a combined development of Block A-1 and A-3 gas fields has been envisaged and FDP preparation of Mya gas field is in progress. The initially in-place reserves certified by an independent firm for the Mya Gas field are 1.52 TCF. Blocks AD-2, AD-3 and AD-9 : The Company acquired three offshore deepwater exploration Blocks i.e. AD-2, AD-3 and AD-9 on 23rd September, 2007 in Myanmar. OVL is the operator with 100% PI in all the three Blocks. The Blocks have been awarded on the basis of mutual understanding and cooperation between India and Myanmar in the hydrocarbon sector. The blocks AD-2, AD-3 and AD-9 extend over an area of 8,100 sq km, 9,900 sq km and 7,800 sq km respectively with water depths of 1,500 to 3,000 meters in the Rakhine Coast in Myanmar. The exploration period spread over four phases extends to 5 years for AD-2; and 7 years for AD-3 and AD-9. 2D Seismic and G-M data acquisition and processing has been completed and interpretation of seismic and G-M data is in progress for evaluation of these Blocks.
Russia Sakhalin-I : Sakhalin-1 is a large oil and gas field in Far East offshore in Russia, spread over an area of approx 1,146 sq km. OVL acquired stake in the field in July, 2001. The Company holds 20% PI in the field; a subsidiary of Exxon-Mobil as operator holds 30% PI; Sodeco, a consortium of Japanese companies holds 30% PI and balance 20% PI is held by two subsidiaries of Rosneft, a Russian Government entity. With the start of exports of Sakhalin -1 crude oil from September, 2006, the project started to generate a positive cash flow. During 2008-09, The Company’s share of production was 1.853 MMT of oil and 0.372 BCM of gas as compared to 2.234 MMT of oil and 0.345 BCM of gas during 2007-08. Imperial Energy :
OVL completed acquisition of UK listed company Imperial Energy Corporation Plc., an independent upstream oil exploration and production company having its main activities in the Tomsk region of Western Siberia, Russia on 13th January, 2009 at a total cost of USD 2.1 billion. Imperial’s interests comprise of seven blocks in the Tomsk region i.e. Block 69, 70, 74, 77, 80, 85 and 86 with a total licensed area of approximately 16,800 square kilometers. It is a long term asset, with some of the fields having been put on production and continuous exploration and appraisal being carried out. The Production licenses were granted to the Company during 2005 to 2008 and valid till 2028 to 2031. All of the license interests of Imperial are 100 per cent owned except block 74 where the net interest of Imperial is 47.5 per cent. Imperial Energy currently produces oil mainly from two fields with a small quantity from 3 other fields where additional exploratory and appraisal work is ongoing. The Company has its own infrastructure including pipeline network, field processing facilities and connections to the Transneft Russian pipeline system. The Company also has a 100% owned drilling subsidiary with three rigs and a 50% owned frac service company providing hydraulic fracture services. As on 1st April 2009, OVL’s share of 2P reserves in the project is 125.705 MMt (O+OEG). OVL’s share in the production during 2008-09 was 0.076 MMT of oil.
Vietnam Block 06.1 : Block 06.1 is an offshore Block located 370 km south–east of Vung Tau on the southern Vietnamese coast with an area of 955 sq km. The exploration License for Block 06.1 was acquired by OVL in 1988; later British Petroleum and PetroVietnam were farmed in as partners. The Company with 45% PI, British Petroleum (Operator) with 35% PI and PetroVietnam, a Vietnamese Government-owned entity with 20% PI, have developed the Lan Tay field in the Block. The field started commercial production in January, 2003. During 2008-09, the Company’s share of production from the project was about 1.848 BCM of gas and 0.046 MMT of condensate.
Block 127 : Block 127 is an offshore deepwater Block, located at water depth of more than 400 meters with 9,246 sq km area in Vietnam. The PSC for the Block was signed on 24th May, 2006. The Company holds 100% PI in the Block with Operatorship. The Company has acquired 1,150 sq km 3D seismic data in the Block and the interpretation of the seismic data has been completed. Location for drilling of exploration well has been identified. Block 128 : Block 128 is an offshore deepwater Block, located at water depth of more than 400 meters with 7,058 sq km area in Vietnam. The PSC for the Block was signed on 24th May, 2006. The Company holds 100% PI in the Block with Operatorship. The Company has acquired 1650 sq km 3D seismic data in the Block and the interpretation of the seismic data has been completed. Location for drilling of exploration well has been identified.

Iran Farsi Offshore Block : Farsi is an offshore exploration Block spread over 3,500 sq km in Persian Gulf Iran with a water depth of 20-90 meters. The contract for the Block was signed on 25th December, 2002. The Company holds 40% PI as operator and the remaining PI is held by Indian Oil Corporation Limited (40% PI) and Oil India Limited (20% PI). Pursuant to the discovery of gas in Farzad ‘B’ structure made by the Consortium led by OVL, it had submitted a commerciality report to National Iranian Oil Company (NIOC), Iran on 23rd December, 2007. NIOC Board of Directorate approved the Commerciality of the Farzad ‘B’ area on 18th August 2008. The draft Master Development Plan (MDP) has been submitted to Iranian Offshore Oil Company (IOOC), which has been designated by NIOC for development of Farzad ‘B’ in April 2009 and is under finalisation. Development Service Contract of Farzad ‘B’ Gas Field is under negotiation by the Consortium with NIOC/IOOC.
Iraq Block-8 : The Company is the sole licensee of Block-8, a large onland exploration Block in Western Desert, Iraq spread over 10,500 sq km. The Exploration & Development Contract (EDC) for the Block was signed on 28th November, 2000. The contract was ratified by the Government of Iraq on 22nd April, 2001 and was effective from 15th May, 2001. Though, the work relating to archival, reprocessing and interpretation of the existing seismic data was completed, due to prevailing conditions in Iraq, The Company notified the force majeure situation to the Ministry of Oil, Iraq in April, 2003. Recently, OVL was informed that Government of Iraq had decided to re-negotiate the Block-8 contract in line with the provisions of the new oil & gas law which is expected to be promulgated soon. Accordingly, Block-8 contract is being renegotiated with the Government of Iraq.
Syria Block-XXIV : Block- XXIV, measuring about 3,853 sq km is an onland Block located in the central eastern part of Syria. The contract for the Block was signed on 15th January, 2004 and was effective from 29th May, 2004. OVL holds 60 % PI in the Block with IPR Mediterranean Exploration Ltd. (operator) holding the remaining 40% PI. During the initial exploration period of three years till 31st March, 2008, the consortium acquired seismic data and drilled two exploratory wells which were not successful. Subsequently, permission was sought for entering into 1st extension period of two years which was granted w.e.f. 29th November, 2007. During the first Exploration Extension Phase, 349 sq km of 3D seismic acquisition in Wadi Dawara Area and reprocessing of 697 sq km of Al Waleed 3D area had been completed. The well Rashid-1 had been drilled during March-April 2009 and flowed naturally and tested for seven days. The discovery in the well had opened up a big area for further exploration with high potential. The development of this field has been proposed to be taken up after approval of commercial discovery and development lease from Syrian Petroleum Company.

Egypt North Ramadan Block : North Ramadan Block (Block 6) is an offshore Block located in the Gulf of Suez with an area of about 290 sq km. The contract for the Block was signed on 8th August, 2005. The Company holds 70% PI in the Block with the remaining 30% PI being held by IPR Energy Red Sea Inc (IPR). OVL and IPR will jointly develop the Block with IPR taking the lead during exploration phase. The consortium had made a discovery of oil in two of the three wells drilled in the Block so far. Permission for entering into 1st Extension of Exploration Phase effective from 8th February, 2009 till 7th August, 2010 has been granted by EGPC which includes drilling of one commitment well. Block NEMED :
OVL acquired 33% Participating Interest (PI) in the North East Mediterranean Deepwater Concession (NEMED), in Egypt Mediterranean Sea. The acquisition was completed on 23rd June, 2007 with effective date of PI holding as 1st October, 2006. The concession at present measures about 20,750 sq km. The other partners in the Block are Shell with 51% PI as operator and Petronas with 16% PI. The third phase of exploration period of three year for the Block started in March 2008. Four wells were drilled in the second exploration phase out of which two wells produced hydrocarbons and two wells went dry. The discovered volume of Gas Initially In Place (GIIP) has been estimated to be approx 1.4 TCF.
Libya Block NC-189 : Block NC-189, measuring an area of 2,088 sq km is located in west-central part of the Sirte Basin in Libya. The Company acquired stake in the onland Block in June, 2003. The Company holds 49% PI in exploration Block NC-189 in Libya with Turkish Petroleum Overseas Company (TPOC), a subsidiary of National Oil Company of Turkey, holding the remaining 51% PI with operatorship. So far, two exploratory wells were drilled in this Block. Both of these wells were plugged and abandoned as dry well. The third commitment well has also been drilled recently and is plugged and abandoned. Block 81-1 : Block 81-1 measuring 1,809 sq km is an onshore exploration Block located in Ghadames Basin in south-west Libya. The Exploration and Production Sharing Agreement (EPSA) for the Block is effective from 10th December 2005. OVL holds 100% PI with operatorship in the Block. The interpretation of the existing seismic data has been completed. Further, 811 LKM of new 2D data and 502 sq. km of 3D data has been acquired. Presently reprocessing of the data is being carried out for further interpretation. Contract Area 43 : The Contract Area 43 in Libya consists of four blocks measuring total area of 7,449 sq km and located in Cyrenaica offshore in the Mediterranean Sea. The Block boundaries extend from the coastline to the water depth of about 2,200 meters. The Exploration and Production Sharing Agreement (EPSA) for the Block was signed on 5th March, 2007. The Company holds 100% PI in the Contract Area with operatorship. Environment Impact Assessment (EIA) studies have been completed and tender for 2D and 3D seismic data acquisition and processing has been awarded.

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Nigeria Block OPL 279 : OPL 279 is a deepwater offshore exploration Block in Nigeria with an area of 1,125 sq km. The effective date of the PSC was 23rd February, 2007. Currently, OMEL through its wholly owned subsidiary company OMEL Exploration & Production Nigeria Ltd. holds 45.5% PI in the Block. Other partners in the Block are EMO, a local Nigerian company with 40% PI and TOTAL with 14.5% PI. The Block is operated by OMEL. As per terms of the agreement, EMO is carried by other participants in their respective share of participation. Block OPL 285 :

OPL 285 is a deepwater offshore exploration Block in Nigeria with an area of 1,167 sq km. The effective date of the PSC was 23rd February, 2007. Currently, OMEL through its wholly owned subsidiary company OMEL Energy Nigeria Ltd. holds 64.33% PI in the Block. Other partners in the Block are EMO, a local Nigerian company with 10% PI and TOTAL with 25.67% PI. The Block is operated by OMEL. As per terms of the agreement, EMO is carried by other participants in their respective share of participation.
Nigeria Sao Tome & Principe, JDZ Block-2, Nigeria-São Tomé & Principe : Block-2 is a deep water exploration Block located in Nigeria-São Tomé & Principe Joint Development Zone (JDZ) with an area of approx 1,034 sq km. ONGC Narmada Limited (ONL), Company’s 100% subsidiary incorporated in Nigeria, holds 13.5% PI in the Block. Other partners in the Block include Sinopec (28.67% PI), Addex Petroleum (14.33% PI), ERHC Energy Inc. (22% PI), Equator Exploration (9% PI), Amber (5% PI), Foby (5% PI) and A & Hatman (2.5% PI) with Sinopec as the operator. Operator has acquired license of 3D seismic data and working on interpretation of data and a well has been drilled recently. Further studies are in progress.
Sudan Block 5A : Block 5A is located in the prolific Muglad basin in Sudan and spread over an area of about 20,917 sq km. The Company acquired stake in the Block from OMV Aktiengesellschaft, Austria on 12th May, 2004. The Company holds 24.125% PI in the Block along with Malaysian National Oil Company, Petronas (67.875% PI) and Sudanese Government Company, Sudapet (8% PI). The Block is jointly operated by White Nile Petroleum Operating Company (WNPOC) a consortium of Petronas and Sudapet. Thar Jath, Mala and Mala Satellites fields h ave been put on production in Block 5A. Further, e xtensive exploration is also going on in the Block. The Company’s share of production from the Block, during the year 2008-09 was 0.285 MMT of oil as against 0.294 MMT for the year 2007-08.
Pipeline Project : An agreement was signed by the Company with the Ministry of Energy & Mining, Government of Sudan (GOS) on 30th June, 2004, for financing & construction of a 12”, 741-km multi-product pipeline from Khartoum refinery to Port Sudan. The project was executed at a base lump sum price of USD 194 million and was completed 2 months ahead of the scheduled 16 months completion period. The pipeline was handed over to GOS in October, 2005. Oil India Limited, the other partner in the project, has 10% PI in the project. Greater Nile Oil Project (GNOP) : Greater Nile Oil Project (GNOP), Sudan is located in the Muglad Basin, around 700 km South-West of the Capital Khartoum and consist of onland blocks 1, 2 & 4 spread over 49,500 sq km. OVL holds 25% stake in the project through its subsidiary company ONGC Nile Ganga BV (ONGBV) which was acquired on 12th March, 2003 Other partners in this project are China National Petroleum Corporation (40% PI), Petronas Carigali Overseas Sdn Berhad, a subsidiary of the Malaysian National Oil Company, Petronas (30% PI) and Sudapet, the National Oil Company of Sudan (5% PI). ONGBV’s share in oil production from GNOP was 2.443 MMT during 2008-09.
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Brazil

OVL acquired PI in exploration block BM-SEAL-4 and BM-BAR-1 in Brazil in August 2008 through ONGC Campos Limitada, a wholly owned subsidiary of ONGC Nile Ganga B.V. The Company holds 25% PI in Block BM-SEAL 4 with Petrobras (Operator) holding remaining 75% PI. OVL also holds 25% PI in Block BM-BAR-1 with Petrobras (Operator) holding 50% PI and Devon holding 25% PI. The projects are currently under exploration Phase.

Block BC-10 :

Block BC-10 is a deepwater offshore Block located in the Campos Basin approximately 120 km southwest from the city of Vitoria off the coast of Brazil with a water depth of around 1800 meters spread over 600 sq km. ONGBV acquired 15% PI in the project on 25th April, 2006 through its wholly owned subsidiary ONGC Campos Ltda. Other partners in the Block are Shell with 50% PI as operator and Petrobras with 35% PI. The Block is currently being developed using sub-sea wells which connects via sub-sea manifolds, flowlines, and risers to a Floating Production, Storage and Offloading Vessel (FPSO). Out of 10 wells planned for phase-1, drilling of five wells (4 producer & 1 gas injector) has been completed. The oil production from the project commenced on 12th July 2009 with approx 5,500 bopd from one well. More wells are in the process of being tied to flow the oil from the field.

Blocks BM-S-73 and Block BM-ES-42 :

ONGBV holds 100% PI in the deepwater offshore Blocks BM-S-73 and BM-ES-42 in Brazil through its wholly owned subsidiary ONGC Campos Ltda. The blocks BM-S-73 and BM-ES-42 are spread over an area of 160 sq km and 725 sq km respectively with water depths of around 200 meters and 1,500 meters respectively. 3D Seismic Survey is currently in progress in both these Blocks.

Blocks BM-SEAL-4 & BM-BAR-1 :

ONGBV holds 25% PI each in Blocks BM-SEAL-4 & BM-BAR-1 in Brazil through its wholly owned subsidiary ONGC Campos Ltda.

Colombia: Block SSJN-7 & CPO-5 : During the year, OVL participated in the Bidding Round 2008 in Colombia and was awarded two Blocks i.e. SSJN-7 with 50% PI and CPO-5 with 100% PI. The Block SSJN-7 is operated by Pacific Stratus Energy, Colombia with 50% PI. The Block CPO-5 is operated by OVL. The concession contracts for the Blocks SSJN-7 and CPO-5 were signed on 24th December, 2008 and 26th December, 2008 respectively. Both the blocks are under zero phase for a period of 6 months for environmental / socialization studies, which would be followed by 3 years of first exploration phase.

Blocks RC-8, RC-9 and RC-10 :

OVL acquired exploration blocks RC–8, RC-9 and RC-10 in deepwater offshore Colombia on 18th September, 2007. In block RC-8, the Company as operator holds 40% PI with Ecopetrol and Petrobras holding 40% PI and 20% PI respectively. In blocks RC-9 and RC-10, OVL and Ecopetrol hold 50% PI each with OVL as operator in RC-10 block and Ecopetrol as operator in RC-9 block. The contracts for the Blocks were signed on 30th November, 2007. The blocks RC–8, RC-9 and RC-10 extend over an area of 2,770 sq km, 2,120 sq km and 2,680 sq km respectively with water depths of 70 to 1,500 meters in offshore Colombia.

ONGC Amazon Alaknanda Limited – Wholly owned Subsidiary

Mansarovar Energy Project :

Mansarovar Energy Colombia Limited (MECL), Colombia is a 50:50 joint venture comprising of a wholly owned subsidiary of OVL i.e. ONGC Amazon Alaknanda Limited (OAAL) and a subsidiary of Sinopec International Petroleum Exploration and Production Corporation (SIPC). MECL's assets constitute a 100% interest in the light oil Velasquez fee mineral property and a 50% interest in the Nare and Cocorna association contracts (Cocorna association contracts under arbitration) where the Colombian national oil company, Ecopetrol S.A. (Ecopetrol) holds the remaining 50%. MECL also owns 100% of the Velasquez-Galan pipeline, which runs 189 km from the Velasquez property to Ecopetrol's Barrancabermeja refinery. The acquisition was done on 20th September, 2006 which was effective from 1st April, 2006.
During 2008-09, The Company’s share of production was 0.370 MMT of oil.

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Cuba: Blocks 25, 26, 27, 28, 29, 35A and 36 : Blocks 25, 26, 27, 28, 29, 35A and 36 are deep water offshore exploration Blocks located in Cuba’s Exclusive Economic Zone (EEZ) with an area of approx 11,231 sq km. The agreement for acquisition of 30% PI in the Blocks from Repsol-YPF of Spain was signed on 23rd May, 2006. The other partners in the Blocks are Repsol-YPF with 40% PI as operator and Norsk Hydro with 30% PI. The consortium has entered into fourth exploration period having a commitment of drilling of one well. Block 34 and 35 :
Blocks 34 and 35 are deep water offshore exploration Blocks located in Cuba’s Exclusive Economic Zone (EEZ) with an area of approx 4,300 sq km. The PSC for the Blocks was signed on 10th September, 2006. OVL holds 100% PI in the Blocks with Operatorship. Acquisition, processing and interpretation of 2D seismic data have been completed. 3D Seismic data acquisition and processing has also been completed. Currently 3D Seismic data interpretation is in progress.
Venezuela: San Cristobal Project : During the year, OVL signed an agreement with Corporación Venezolana del Petróleo (CVP) S.A. (CVP) on 8th April, 2008 and acquired 40% Participating Interest (PI) in San Cristobal Project, Venezuela. San Cristobal project covers an area of 160.18 Sq. Km in the Zuata Subdivision of proliferous Orinoco Heavy Oil belt in Venezuela. The project is operated jointly by OVL and PDVSA. The JV Company has been named “Petrolera IndoVenezolana SA” (PIVSA). PDVSA holds 60% equity in JVC and OVL holds 40% equity through ONGC Nile Ganga (San Cristobal) BV, a wholly owned subsidiary of ONGC Nile Ganga B.V. OVL’s share in the production during 2008-09 was 0.671 MMT of oil.