(a) whether the ONGC Videsh Limited (OVL) has discovered a new oil field in Iran;
(b) if so, the details thereof; and
(c) the country’s share in the new oil field and the steps taken/being taken to assess the reserves precisely?
(a) whether the ONGC Videsh Limited (OVL) has discovered a new oil field in Iran;
(b) if so, the details thereof; and
(c) the country’s share in the new oil field and the steps taken/being taken to assess the reserves precisely?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI DINSHA PATEL)
(a) & (b): ONGC Videsh Ltd. (OVL) holds 40% Participating Interest (PI) in Farsi offshore exploration Block in Iran spread
over 3,500 square kilometers, as operator and remaining PI is held by Indian Oil Corporation Ltd. (40% PI) and Oil India
Ltd. (20% PI). During the exploration campaign in Farsi Block in 2006, OVL drilled 3 wells in BB structure. By drilling
these 3 new wells, OVL confirmed BB structure as an oil field.
(c): As per prevailing contractual system in Iran OVL is working under Exploration Service Contract (ESC). OVL had engaged
an international consultant to assess the feasibility of the oil field development which included reserves study also.
Feasibility Report of the field has been submitted to National Iranian Oil Company, Iran on 26th November, 2008.