Under Open Acreage Licensing Policy Bid Round I
Hindustan Oil Exploration Company announced that it has emerged as the successful H-1 bidder for Block AA-ONHP-2017/19 under the Open Acreage Licensing Policy (OALP) Bid Round I. The Directorate General of Hydrocarbons (DGH) has published the list of the duly approved awardees for 55 blocks and the Revenue Sharing Contract is expected to be executed with HOEC on 06 September 2018 at New Delhi.This Block AA-ONHP-2017/19 extends to an area of 79 sq. km. and is located adjacent to Dirok Field operated by HOEC. Based on assessed prospectivity, this Dirok extension area was carved out by HOEC by filing first the Expression of Interest (EOI) as required under OALP bid process and later submitted a competitive work program.
Dirok and its extension Block AA-ONHP-2017/19, together forms one Greater Dirok Area that is part of a proven petroleum system with a package of prolific reservoirs such as Girujan, Tipam and Barail, and known to hold several leads and prospects.
Greater Dirok Area has the required infrastructure in the form of Gas Processing Plant and gas pipeline to market operated by HOEC and Digboi Refinery of IOC in its vicinity, making it easy to rapidly drill the exploratory wells and to quickly monetize on success.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
