Oil India Limited (OIL) has begun its offshore operations in Andaman Shallow Waters with the deployment of a multi-purpose seismic data acquisition vessel SW Vespucci on Thursday. A company statement said that exploration efforts in Andaman Offshore are being resumed after a long time.
The vessel has been deployed for the acquisition of 2D seismic data in blocks that OIL has bagged during the third Open Acreage Licensing Policy (OALP) Bid round. These blocks are AN-OSHP-2018/1 and AN-OSHP-2018/2.
Chairman and Managing Director at OIL, Sushil Chandra Mishra said, “The company has drawn up plans to intensify its exploration efforts in the country and increase exploration capital expenditure in the coming years.”
He further stated that the data acquisition in Mahanadi on-land blocks in the state of Odisha would begin shortly, and the exploration drilling campaign in its OALP blocks would commence during 2021-2022. OIL plans to carry out drilling at 66 wells in OALP blocks in the next 3-4 years.
OIL has been awarded 21 blocks spread over Assam and Assam-Arakan basin, Rajasthan, Mahanadi Onland, Andaman and Kerala-Konkan Offshore basins. OIL is expecting two more blocks under OALP V in the state of Assam, which would take the acreage position of OIL in the northeast to over 20,000 square kilometres. Apart from consolidating its position in northeast and Rajasthan, OIL has made conscious efforts to explore in Category II and III sedimentary basins, the statement said.