Project San Cristobal, El –Tigre, Venezuela got a fresh infusion of energy when Mr. P. K. Rao, Director (Operations), recently visited the San Cristobal Project. There has been continuous decline in the production from the project due to decline in the reservoir pressure. Detailed reservoir studies had been carried out by the joint venture with active support of subsurface professionals of ONGC Videsh and Corporate Exploration Center of ONGC and a scheme of water injection named remediation plan was finalized for the field.
Director (Operations), ONGC Videsh Chairing review meeting at El-Tigre
However, the scheme was facing delays on account of resource crunch besides difficult social environment in the country challenging the remediation efforts. Continuous engagement by the ONGC Videsh management has led to signing of Agreements on Nov 04, 2016 for receipt of past dividends and financing for remediation plan. Since then about USD 88 million of past dividend has been received and about USD 17 million has been disbursed to the joint venture as loan for implementation of remediation plan.
Director (Operations) with Mr. Ruben Figuera, Director-PdVSA and other officials of PIVSA
The remediation plan envisages enhancing reservoir pressure by water injection, drilling of 17 water injector wells, 36 additional producer wells and creation of surface facilities for injecting 140 KBPD of water into the reservoir, processing of 80 KBPD of produced liquid and compression facilities for 15 MMSCFD of gas. Success of this scheme would enhance visibility of ONGC´s technical capability in overseas operations. The scheme has been also vetted by ONGC Institutes – IRS and IOGPT. Consequently, the first phase of water injection has been accelerated by constant engagement with the JV and long pending jobs towards creation of injection facilities have commenced to inject about 45 KBPD of water. These facilities comprise of three water supply wells, gas separator system, storage tank, water injection pumps, water injection lines and 5 injector wells.
Director (Operations) with employees of PIVSA supervising field operations
The culmination was achieved with the inauguration of the phase-1 water injection by Mr. P.K. Rao, Director (Operations), on April 29, 2017 at San Cristobal Field. During the ceremony PDVSA was represented by Mr. Ruben Figuera, Executive Director (New Developments) and Mr. Jose Aredondo, Manager Indian operations, Mr. Nelson Ramirez, President PIVSA, Mr. SK Thamilselvan, Country Manager and other ONGC Secondees in Venezuela. Employees of the Joint Venture were also present at the occasion in large number.
Director (Operations) inaugurating the water injection & addressing the employees of PIVSA
During his address, Mr. P.K.Rao, Director (Operations), expressed his gratitude towards the Board of ONGC/ONGC Videsh and CVP-PDVSA for their support for the project which was very vital for its success. He emphasised to work collectively to improve the production performance by improving the operational efficiency, thereby reducing the lifting cost. The ceremony took place just ahead of Labor Day, which is a big event in Venezuela. On the occasion, Mr. P.K. Rao greeted all the workers present and complimented them for the hard efforts made by them. He expressed hope that they will continue to work with same zeal and dedication to take the project to greater heights and thus strengthen the friendship between India and Venezuela.
अनुवाद पैनल से संबन्धित कार्यालय आदेश
Official use of National Flag Map, Symbol & Anthem of India
ONGC Videsh has encountered exciting result in its well Mariposa-1 which is under drilling in CPO-5 block of Colombia. ONGC Videsh is the operator of the block and holds 70% P.I and Amerisur Resources holds the remaining 30%.
The well Mariposa-1 commenced drilling on March 24, 2017 and was directionally drilled to a total depth of 11556 feet (MD). Electric Log analysis indicates the presence of approximately 120ft of oil saturated net pay in the Lower Sands Unit 3 of the Une Formation. Good hydrocarbon shows of oil and gas were also encountered while drilling this section. The well is currently under conditioning to run and cement a 7” production liner in order to initiate the testing programme.
Mr. Sudhir Sharma, Director Exploration – ONGC Videsh Limited, visited Beijing, China to attend 37th MECL Board Meeting as Director and Vice Chairman of MECL Board, held on 27th and 28th April 2017.
The board meeting was attended by Mr. DuanZhibin (SINOPEC) as Chairman, Mr. Gong Jiuhe (SINOPEC) and Mr. Amit Bharti (ONGC Videsh) as other Directors of MECL Board and by officers of MECL.
From Left to Right: Mr. Navneet Singh (Assistant Secretary), Mr. J.P Waghray (CTO), Mr. Zhao Xuan (COO), Mr. Amit Bharti (Director), Mr. Duan Zhibin (Director-Chairman), Mr. Sudhir Sharma (Director- Vice Chairman), Mr. Gong Jiuhe (Director), Mr. Carlos Alberto Benavides Bonilla (EVP CA&B), Mr. Zhang Hui (CFO), Mr. Leonel Fernando Vargas Zapata (EVP Operations)
MECL has emerged as one of the key players of heavy crude oil in Colombia, and a pioneer of technology in the country. MECL is owned 50:50 by ONGC Amazon Alaknanda Limited (OAAL) and SINOPEC Overseas Oil and Gas Limited (SOOGL), respective Bermudian Subsidiaries of ONGC Videsh Limited and SINOPEC.
MECL owns 100% interest in Velasquez field (discovered in 1940s and is producing for nearly 60 years) and the Velasquez-Galan pipeline, which runs 189 km from the Velasquez property to Ecopetrol’s Barrancabermeja refinery. MECL operates in the fields within the Nare Association Contract with Ecopetrol, Colombia’s National Oil Company, where crude was found in the 1980’s. The Association contract covers the commercial fields Moriche, Girasol, Jazmin, Abarco, Nare Sur and Under River as well as non-commercial areas of Chicala.
The officers of MECL presented the agenda’s pertaining to Company’s performance, Annual Accounts of 2016, OPEX Budget of 2017, strategy for extension of one of the producing blocks, New Business development Strategy, strategic initiatives including Crude upgradation and Scope of Renewable Energy in Colombia as well as status of exploratory block operated by Mansarovar to the Board of Directors.
Mr Sharma appreciated the efforts of MECL team for conducting the meeting in efficient manner. He highlighted that the most burning issue is decline in production and MECL should make all efforts to arrest the decline and bring it back to the level it reached in 2014. He added that the ONGC Videsh technical team has studied the Velasquez field in detail and has also shared its technical recommendations with MECL team for arresting the production decline and further boosting the production level. He ensured all the help from ONGC Videsh for implementing those recommendations. He showed concern over the dismal performance of HSE KPI in 2016. He opined that the action plan to improve the HSE KPI by outsourcing the manpower also needs close supervision by MECL. The reasons for delay and cancellation of contract leading to low CAPEX and Physical execution must also be monitored very closely by MECL. He also supported the opinion of other Board member, Mr Amit Bharti of further optimizing and reducing the OPEX to add more value to the Shareholders. On NARE association renegotiation, he advised MECL to gauge the expectations of Ecopetrol and subsequently make strategy for negotiation on the basis Win-Win situation for both Ecopetrol and MECL. He assured ONGC Videsh help in diplomatic push/ intervention needed for success of Nare renegotiation. He appreciated the Renewable energy initiatives taken by MECL and advised MECL to look for opportunities, get aligned with the international trend and utilize the appropriate moment to enter this sector after proper due diligence.
Along with Mr. Duan Zhibin, Chairman of the Board, he thanked MECL team for all the arrangements, presentations, and for conducting the meeting in an efficient manner.
ONGC Videsh Corporate Stationery 2017
I was a tree in my last life
Corporate Presentation
