Miscellaneous Last updated on 01
September 2006
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ONGC signed an agreement with L.N. Mittal group to form two 51:49 % joint venture companies - OMEL (ONGC Mittal Energy Ltd) and OMESL (ONGC Mittal Energy Services Ltd) for exploration, production and shipping activities abroad. |
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OMEL has entered into an MOU with Nigeria under which the later will allocate deep water exploration blocks in Nigeria that are expected to yield 32.5 million tones of oil every year for 25 years. The right of PSC has been obtained by offering Abuja a $ 6 billion “capacity build up” package. OMEL will build or get Indian companies to build power plants, railway system, refining capacity and training institutes in Nigeria, in return of equity oil |
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ONGC’s net profit for the year 2005-06 was Rs 14431 crores (x 10 million). |
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ONGC Videsh profit after tax for the year 2005-06 was 14,175 crores. |
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ONGC Videsh will hold 50 % stake, Engineers India 25 %, Indian Oil Corporation 15% and Oil India the remaining 10 % in the US $ 750 million refinery revamp and petroleum products pipeline projects in Sudan. |
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ONGC has offered 26 % partnership in to Coal India Ltd (CIL) in its Underground Coal Gasification projects. CIL is also likely to join ONGC in its CBM projects. |
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ONGC board has approved setting up of a new company Opal (ONGC Petro-additions Private Ltd) to implement the C2-C3 extraction plant at Dahej from rich LNG to be supplied by Petronet LNG Ltd. |
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ONGC Videsh has signed a MOU with Ghana National Petroleum Corporation GNPC) to study and evaluate data of Central basin so as to enter an agreement for exploration, development and production agreement. |
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GAIL and EIL (Engineers India Ltd) have signed a MOU for gas processing and transportation projects abroad. |
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IOC (Indian Oil Corp) and STATOIL, Norway have formed into a SPV (Special Purpose Vehicle) for acquisition of prospective exploration acreage and producing properties. They have also entered into a agreement for the formation of joint venture SPV towards securing service business in oil and gas industry internationally. |
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ONGC Videsh and Norsk Hydro have signed a MOU under which the companies will make opportunities available for each other’s consideration on nonexclusive basis. |
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ONGC has entered into an MOU with ENI for exchanging information in a wide range of exploration opportunities in India and overseas and be a strategic partner with state of art technology, specially in deep water exploration and development. |
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OILEX of Australia has acquired 30 % stake in onshore Cambay gas field in Gujarat from GSPC. |
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GAIL plans to set up a coal gasification plant of 2000 tonnes capacity in Eastern India to produce three to four million cubic meters of syn-gas per day using Shell Coal Gasification Process. |
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ONGC has signed a MOU with Water and Power Consultancy Services (WAPCS), a Government of India company, to address deeper unexploited ground water in draught prone areas under Project Saraswati. |
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GAIL and HPCL have entered into an agreement to jointly address E&P and City Gas projects. They will look for farm out opportunities and bid for overseas E&P projects on the line of ONGC Videsh. |
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India and Turkey have signed a MOU for cooperation in field of oil and gas. Indian and Turkish companies will cooperate in bidding for NELP blocks and also in E&P, LNG, engineering projects etc in third countries. |
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GAIL has entered into an agreement with Ergo Exergy Technologies Inc, Canada for ‘in-situ Lignite Gasification' technology for its project on Underground Coal Gasification in Rajasthan. |
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GAIL has signed a MOU with Arrow Energy, Australia and Energy Infrastructure Group, Sweden for cooperation in addressing CBM opportunities in India , Australia and other countries of mutual interest. |
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ONGC has signed a MOU with Skochinsky Institute of Mining, Russia for technical cooperation in underground coal gasification (UCG). ONGC is also in process of signing MOU with Coal India, Neyeli Lignite Corporation and GSPCL for cooperation in applying this technology in various parts of India . The syn-gas produced during UCG comprise s methane, carbon mono-oxide and hydrogen and has lesser calorific value. |
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ONGC has joined hands with GMDC (Gujarat Mineral development Corp.) for UCG in Gujarat. |
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Essar has drilled three wells to 1400 m depth in CB-ON-3 in North Cambay basin for CBM exploration. One of these wells has been dewatered to produce CBM. The wells are planned to be on production in February 2006. |
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Reliance announced discovery of 3.76 tcf in place reserves of coal bed methane gas in Sohagpur East and West blocks in Madhya Pradesh. |
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ONGC is presently testing 2 wells for coal bed methane gas. Commercial production is planned for early 2007. |
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Great Eastern Energy Corp. Ltd (GEECL) has discovered significant reserves of CBM in Raniganj coal field area in West Bengal allotted to them on nomination basis before CBM exploration rounds were started. Reserves estimated by DGH are 1.385 tcf. GEECL plans to drill 100 production wells in the area and will soon start drilling of first 20 wells. |
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Essar and Gardes Energy Services of USA have formed a 50:50 joint venture to offer technology and allied services for exploration and drilling for CBM and oil / gas. The JV intends to bid for CBM and oil / gas blocks in Russia , Kazakhstan , China and Turkey besides India. |
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Cheveron will buy 29 % interest in Reliance Petroleum Ltd for nearly US $ 1.8 billion (Rs 8100 crores). |
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Gas Hydrate: The first gas hydrate well KK-GH-01 has been spudded in Kerala-Konkan offshore in water depth of 2674 m by research vessel JOIDES Resolution. 294 m will be continuously cored below the sea bed. |
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Essar plans to set up a 16 to 20 million tonne refinery in the up coming Special Economic Zone near Jamnagar in addition to the 10.5 million tonne per annum refinery under construction near Vadinar. |
