Exclusives

Reliance Industries, BP, KG-D6 Block, India oil and gas

The companies plan to invest about US$4 billion to develop natural gas discoveries in the Bay of Bengal’s KG-D6 Block.

An infill drilling program will kick off the plan’s launch in second-half 2018 followed by installation of a 12-well slot platform in first-half 2019.

The treaty signing in New York on March 6 marked the first conciliation under the U.N. Convention on the Law of the Sea—a process UN Secretary-General António Guterres said could offer other countries a path toward resolving contentious maritime boundary disputes.

india_technology_deepwater

The state-owned explorer faces challenges to produce gas from its UD-1 discovery in the Bay of Bengal.

India, ONGC, gas production, growth

The state-run company has increased its gas production by 10% in the last three years, but that is expected to rise.

Drilling

Top Chinese oil and gas firm PetroChina (NYSE: PTR) struck high flow rates in a deep shale gas well in Chongqing in southwest China, the Xinhua News Agency reported on June 13.

Tap Oil Ltd. on June 4 provided an update on drilling of the Manora-8ST1 appraisal well at the Manora oil field in the G1/48 concession in the Northern Gulf of Thailand (Tap 30% interest).

A unit of Russian state oil firm Rosneft, Rosneft Vietnam BV, has started drilling at a new production well in waters off the southern coast of Vietnam.

Norway’s Borr Drilling plans to buy five new jackup oil drilling rigs from an Asian shipyard for a total of $720 million, the company said on May 15.

IKM Subsea Singapore signed a contract with PTTEP for their appraisal campaign offshore in Myanmar, the company said on April 3.

Field Development

Output from the Deendayal natural gas block off India’s east coast will reach as high as 1 million standard cubic meters per day (MMscm/d) by January 2019, according to Rajesh Kakkar, head of ONGC’s offshore division.

Santos Ltd. has sold its noncore Asian portfolio to Ophir Energy Plc for $221 million, the company said in a press release on May 3.

BP and Reliance Industries Ltd. on April 19 announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6.

Italy’s oil major Eni (NYSE: E) has received approval of a plan of development of a natural gas field located offshore East Kalimantan in Indonesia.

The natural gas treatment plant project worth nearly US$600 million is of "great significance" to the development of oil and gas for Petrobras pre-salt, according to the company press release.