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Future Plans

Infill Well Drilling

Detailed interpretation of the OBC 3D seismic data and input of actual production and pressure data into reservoir simulation, led to selection of optimal locations for infill wells. These are likely to be taken up for drilling in the next few months. Drilling of these additional wells is expected to improve the recoverable oil reserves to about 256 mmbbls.

Leads And Prospects
  • 1. Refined structural mapping and avo and attribute studies on the latest 3d data, has led to mapping of several exploratory prospects in the contract area. Among these, twelve prospects are prioritized based on confidence in mapping and anticipated reserves. Some prospects have deep-seated objects at around 4000 - 4500 metres.
  • 2. JV plans to undertake exploratory drilling on these new prospects soon. 4D Seismic Surveys:
    In order to monitor the water front movement in the reservoir, consequent to sustained oil production, the JV is undertaking feasibility studies for acquiring time-lapsed (4d) seismic surveys in Ravva prospect area, in the near future.
Gas DistributionProposed area of operations:
  • 1. Phase I Andhra Pradesh
  • 2. Phase II Gujarat, Tamil Nadu
 

Videocon has entered into an MOU with an exploration company Oilex NL of Australia, by which Videocon and Oilex plan to explore opportunities for cooperation in the acquisition of oil blocks in Australia, India and other countries as may be mutually agreed.

Block 103, Joint Petroleum Development Area, Timor Leste & Australia
The consortium comprising Videocon Industries (25%) & GSPC (25%), BPCL (25%) and Oilex (25%) as the Operator has been awarded the Block 103 by the Timor Sea Designated Authority, located in the northern part of the Joint Petroleum Development Area subject to signing a Production Sharing Contract.

Block 103 was rated by the group to be the most prospective of the blocks on offer. It is located immediately to the east of Laminaria, Corallina, Kakatua, Kuda Tasi and Elang discoveries/oil & gas fields and to the north of Bayu-Undan condensate field.

The Timor Sea Designated Authority was created on 2nd April 2003 pursuant to the Timor Sea Treaty between Governments of Timor-Leste and Australia.

Block EPP-27, South Otway Basin, Australia
Videocon Industries has taken a farm-in interest in Block EPP-27 in the South Otway Basin along with Oilex and GSPCL of 20% each with balance 40% being retained by the original license holder Great Artesian Oil & Gas Ltd. The operator Oilex NL has informed that it has completed acquisition of a marine seismic survey totaling 1325 km of 2D seismic data within the permit. The survey has provided an extension of the existing seismic grid covering some eight potential leads in to the central & eastern portions of the permit. These parts of the permit are believed to have greater oil potential.

Block 56, South Oman Salt Basin, Oman
A consortium comprising Videocon Industries. Oilex, GAIL, HPCL and BPCL with Oilex as the operator have been awarded Block 56. This block is located onshore adjacent to the producing fields operated by PDO, the Oman national oil company, in the South Oman Salt Basin, which is one of the main producing basin in Oman.

The Exploration Production Sharing Agreement and Joint Operating Agreement was signed on June 28, 2006. A programme of drilling 11 exploratory wells in the first phase of three years has been proposed.