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Oil India Limited has reported a 3.57 per cent rise in crude oil production during financial year 2017-2018 compared to fiscal 2016-2017.
Crude oil production stood at 3.394 million tonne, as compared to 3.277 million tonne during financial year 2016-2017. “Crude oil sales were 3.327 million tonne as compared to sales of 3.221 million tonne during 2016-2017. On the other hand, OIL achieved natural gas production of 2905 MMSCM from Assam, Arunachal Pradesh and Rajasthan fields (inclusive of 23 MMSCM as OIL's share from Dirok JV, which started production since August, 2017),” Chairman and Managing Director, Utpal Bora said at the company’s 59th Annual General Body meeting at its Field Headquarters in Duliajan, Assam.
The gas production potential decreased in few high producing wells due to downhole problems, which has led to marginal decrease in annual gas production, Bora said.
Bora also said that a significant development has been the production of Heavy Oil from Baghewala field of Rajasthan through chemical stimulation process. In a period of 11 months of 2017-2018, a total quantity of 1259 MT of heavy oil was supplied to IOCL resulting in revenue generation of more than ₹2 crores. Pilot project has been initiated using Cyclic Steam Injection Technology for production of heavy oil and is planned to commence operations during the last quarter of 2018-2019.
Giving an overview of the Company’s activities, Bora said that OIL carried out 2D & 3D seismic survey to identify new prospects in the PML areas and NELP blocks. It had drilled 14 (Fourteen) exploratory wells in PML areas and continued exploratory efforts in the NELP Block KG-ONN-2004/1 in KG onland basin by drilling 03 (three) wells including one High Pressure-High Temperature (HPHT) well.
Bora also said that, during the year, OIL made a total of total of 4 hydrocarbon discoveries in the Upper Assam basin at Lakwagaon, South Baghjan, South Chandmari and Hukanguri and also established the first commercial oil production from a new formation in Upper Assam basin.
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