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Old March 13th, 2013, 01:29 AM   #1
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Rajasthan Oil & Gas Sector News | राजस्थान तेल एव गैस क्षेत्र

A thread for updates related to the Oil and Gas sector in Rajasthan. Now that we're getting the refinery in Barmer we should see even more investment in this sector.

It's a fairly recent sector. I'll start with old posts posted in the other thread so we have a back ground and end with the most recent news of the refinery being set up.
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Old March 13th, 2013, 01:40 AM   #2
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August 2009

Cairn India to Start Rajasthan Oil Output on Aug. 29

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Aug. 26 (Bloomberg) -- Cairn India Ltd., a unit of U.K.- based explorer Cairn Energy Plc, will start producing crude from its largest field in Rajasthan state on Aug. 29, an area that will help increase the nation’s oil output by 20 percent.

The explorer will start with a few thousand barrels a day from the Mangala field and gradually increase production to 30,000 barrels in a few months, Chief Executive Officer and Managing Director Rahul Dhir said. Weather-related delays won’t affect the completion schedule of a pipeline Cairn is building, he said on a conference call today.

“A minor delay in the pipeline can only have a negligible impact on the company’s long-term prospects,” said Sandeep Randery, an analyst at Brics Securities who has a “sell” rating on Cairn India’s stock. “The ramp up in production is happening as per schedule.”

Output from Cairn’s field starts five months after Reliance Industries Ltd. began producing natural gas from an area off the nation’s east coast. The fields may help India, which imports over 75 percent of its energy requirements, attract bidders for 70 oil and gas exploration areas being auctioned this year.

Cairn shares fell 0.7 percent to 257.05 rupees in Mumbai trading. The stock has advanced 49 percent this year compared with a 63 percent increase in the benchmark Sensitive Index of the Bombay Stock Exchange.

Not Losing Sleep

The explorer plans to complete building the pipeline to transport crude from the field to the west coast in Gujarat state by the end of the year. The target for completing the pipeline looks to be “increasingly challenging,” Cairn India Chairman Bill Gammell had said yesterday.

“We have been working in difficult weather,” Dhir said. “There have been some monsoon delays in Gujarat. There will be a few weeks up and down in such a large project. It’s not something we would lose sleep over.”

The initial output from Mangala will be transported by trucks and tankers to Mangalore Refinery & Petrochemicals Ltd., nominated by the government as one of the buyers of Cairn’s crude.

The cost of carrying oil by trucks will be $10 to $12 a barrel, compared with $1.5 a barrel through the pipeline, Dhir said. Indian Oil Corp., the nation’s biggest refiner, will be the first buyer of the oil that will be transported by pipeline, he said.

Cairn India said July 29 negotiations on the pricing and commercial terms of crude sales from its Rajasthan field had been concluded. The price would be 10 percent to 15 percent less than the average Brent crude rate in the six months ended June 30, it said.

Cairn India and partner Oil & Natural Gas Corp. may spend a combined $1.5 billion to $1.8 billion in 2010 and 2011 to develop the Rajasthan field.

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Old March 13th, 2013, 01:46 AM   #3
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September 15th, 2010

Mangala crude output can be ramped up to 150,000 bpd: Cairn

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MUMBAI: Cairn India Ltd, the energy firm that London-listed Vedanta Resources is seeking to buy, on Wednesday said the giant Mangala oilfield in Rajasthan can produce 150,000 barrels per day, 20 per cent more than the previously approved peak production.

Mangala is the first of 25 oil and gas discoveries Cairn has made in the prolific Rajasthan block. The largest oil find in the country in more than two decades has an approved plateau production of 125,000 bpd (6.25 million tonnes) and, together with the Bhagyam and Aishwariya fields in the block, is slated to produce 175,000 bpd (8.25 million tonnes).

Today, the Mangala field in Rajasthan is producing 125,000 barrels of oil per day with the ability to go above that level from the Mangala field alone, Cairn India Chairman Bill Gammell told company shareholders here today.

Gammell, who is also the Chief Executive of UK's Cairn Energy Plc, which holds a 62.38 per cent stake in Cairn India, said the production can be quickly ramped up to 150,000 bpd (7.5 million tonnes).

"The results from the ongoing development drilling campaign in the Mangala field confirm the excellent reservoir quality of the Fatehgarh Formation to support an increase in the production potential to 150,000 bpd, subject to government of India approvals," he said.

"The current estimate of the resource base in Rajasthan provides a basis for our vision to produce at least 240,000 bpd (12 million tonnes a year) from the block, subject to regulatory approvals and additional investments," he said.

The output would be equivalent to what state-owned Oil and Natural Gas Corp's prime Mumbai High field in the Western Offshore produces.

Cairn has commissioned three plants that can process 125,000 bpd of crude oil pumped out from wells in the Rajasthan block before dispatching them to refiners. A 590-km -long crude oil pipeline from Barmer to Salaya, in Gujarat, carries the Mangala crude to Reliance Industries, Essar Oil and Indian Oil Corp (IOC) for processing.

The Mangala field in the Thar desert of Rajasthan was discovered in January, 2004, and put to production in late August last year.

Gammell said Vedanta Resources has made an offer to buy a 40 to 51 per cent stake in Cairn India from Cairn Energy Plc for up to USD 8.48 billion.

"As of now, the proposed transaction has not been closed and is subject to consents and approvals in India and in the United Kingdom," he said.

Cairn India's "vision is to take the production in Rajasthan to at least 240,000 bpd, subject to further investment and approvals," Gammell said. "I would say, therefore, that this is an exciting and transformational time for your company."

source:unknown
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Old March 13th, 2013, 01:48 AM   #4
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February 13th, 2011

Oil production at Bhagyam field to begin this year

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Jodhpur: Oil production at the Barmer basin, which has been stuck at 1.25 lakh barrels a day, will increase to 2.05 lakh thousand barrels per day by the year end. This was announced by Cairn India who released the company’s output figures for the third quarter of this financial year on Thursday declaring that 2.75 crore barrel of oil has been extracted from the basin till December 31, 2010.

The production at Mangala field will soon become 2.05 lakh barrels while at Bhayam field 40 thousand barrel oil will be extracted every day. The extraction at Bhagyam will begin this year, while at Aishwariya field it will begin next year.

Petroleum ministry has given permission for the development plan of Bhagyam field. Cairn India has already spent Rs 12.6 thousand crore on the development of Barmer basin oil fields. The company has earned a profit of Rs 2.1 thousand crore in the third quarter of this financial year.

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Old March 13th, 2013, 01:51 AM   #5
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March 2nd, 2011

Oil pumps R 1,608 crore to Rajasthan coffers

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Jaipur: It’s official now. The revenue earned from oil extraction in Rajasthan is more than the combined income generated by all minerals mined in state.

Between April 2010 and February 2011, the mining department earned revenue of Rs 3,200 crore. Petroleum production in Barmer contributed more than Rs 1,600 crore to this tally.

This has given the state government an unprecedented boost in its revenues from the sector. The results were so unexpected that the earnings have surpassed the conservative estimates of revenue from oil production set by the mining department at the beginning of the current fiscal.

Petroleum and mines minister Ramlal Jat said, “We have earned Rs 1,608 crore from oil production till February in the current fiscal.The revenue from rest of the minerals was Rs 1,570 crore for the corresponding period.”

At the beginning of the current financial year, the state government had projected a revenue of Rs 700 crore from oil production in Barmer. Officials in the petroleum and mines department said the expectations were based on the projected crude oil production during the current fiscal.

“The government had generated revenue of Rs 1,400 crore from mining in the last
fiscal [2009-10]. The revenue from oil was around Rs 100 crore as production had just begun,” a government official said.

At its peak, oil extraction from the Barmer-Sanchore basin would yield around 1.75 lakh barrels of oil everyday,enough to feed 20 per cent of the oil production in India.

Oil production at its peak will add to the state royalty a revenue of Rs 8 crore every day,” an official confirmed.

The officials also pointed out that peak output in oilproduction is an indicator that Rajasthan is suitable for setting up a refinery.

However, the state government’s demand for an oil refinery in Rajasthan is yet to be accepted by the Union government.
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Old March 13th, 2013, 01:55 AM   #6
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March 30th, 2011

Cairn India sees Rs 6,600-cr net in first full year of production; stock up

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NEW DELHI: Cairn India will complete the first full year of producing oil from its Rajasthan block with a net profit of about Rs 6,600 crore on March 31 and has projected it to jump by 34% next fiscal year, sweetening its planned acquisition by Vedanta Resources for $9.6 billion, investment bankers and analysts said after a confidential briefing by the company.

At 10:40 am, shares of the company were trading 0.34% up at Rs 353.25 on the Bombay Stock Exchange.

The company's net profit in the next financial year is expected to be about Rs 8,900 crore due to a surge in global crude prices and a 40% increase in output from the Rajasthan block, an analyst with direct knowledge of its finances said requesting anonymity. Cairn's oil price realisation is expected to jump close to $100 a barrel in the current quarter compared to $74.8 per barrel in the previous quarter of current financial year, the analyst said.

The company has already registered a net profit of Rs 3,877 crore in the first nine months of 2010-11 , registering a 381% jump. Its net profit in the previous fiscal year, during which the Rajasthan block started production, was merely Rs 1,051 crore. Cairn India director-corporate affairs Manu Kapoor declined to comment. "The company's robust financial performance this year and its potential has kept Vedanta waiting for the deal to conclude," said the analyst who is tracking the multi-billion-dollar Cairn-Vedanta deal since it was announced on August 16. The deal is expected to get a green signal from the Indian government next week. Anil Agarwal-controlled Vedanta Resources had agreed to buy up to 60% of the Indian unit of Scottish firm Cairn Energy for $9.6 billion and awaiting the government's approval for over six months.

The delay was mainly due to Cairn's initial resistance in seeking government's nod and its dispute with ONGC over a royalty issue in the Rajasthan block. As per a 15-year-old contract, ONGC is obliged to pay royalty on behalf of its partner for oil produced from the Rajasthan block. ONGC cites the same contract for recovering the royalty cost from the field's revenue before calculating profit. Cairn contests ONGC's claim as the move would significantly reduce the valuation of the deal.

Cairn India, which is producing oil from India's biggest onland oil block in Rajasthan since August 29, 2009, is getting 125,000 barrels daily output from the Mangala oilfields in the block. The block is Cairn's main asset comprising over 90% of the deal valuation. The output from the Mangala fields can be ramped up to 150,000 barrels per day in just 48 hours, a Cairn executive said. "Cairn has required infrastructure ready and waiting for the government's approval," the executive, who did not wish to be named, said.

The company is expecting an additional output from the Bhagyam fields in the Rajasthan block in the second half of 2011. The fields are expected to achieve a plateau crude oil production of 40,000 barrels per day by 2011 end, the executive said. Cairn India's parent company in Londan claimed last week that the Rajasthan block has a potential to produce 240,000 barrels of crude oil daily. But the claim is yet to be ratified by the Indian upstream regulator, the Directorate General of Hydrocarbon. It has so far approved a peak output of 175,000 barrels per day from three oilfields - Mangala, Bhagyam and Aishwariya - at the Rajasthan block, which is about 20% of India's overall domestic crude oil production.

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Old March 13th, 2013, 01:57 AM   #7
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May 19th, 2011

Cairn Starts Developing Bhagyam Oil Field in India’s Rajasthan

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Cairn India Ltd. (CAIR), which Vedanta Resources Plc (VED) proposes to buy, has started developing the Bhagyam oil field in the western state of Rajasthan, the U.K.- based parent company said.

Production from Bhagyam is expected to start in the second half of 2011 and may reach 40,000 barrels a day by the end of the year, Cairn Energy Plc (CNE) said in a statement today. Thirty wells have been drilled in the field.

Construction of the fourth unit at the Mangala crude processing plant has started and is expected to be ready in the second half of this year, Cairn Energy said. Gross revenue from the Mangala field exceeded $3 billion, Cairn Energy said, without giving a timeframe.

Cairn India will start exploration drilling in a block in Sri Lanka in August, according to the statement.

The sale of a 40 percent stake in Cairn India by the parent is awaiting the Indian government’s approval, Cairn Energy said. The company said it agreed with Vedanta to extend the closing date of the sale and purchase agreement in order to secure the approvals to complete the transaction.

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Old March 13th, 2013, 02:00 AM   #8
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May 26th, 2011

Thar Dessert: More oil on Rajasthan's menu


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Jaipur: Rajasthan's dream of getting an oil refinery may take some more time but 'black gold' retrieved from the Thar desert has already become the biggest revenue earner for the state.

According to Chief Minister Ashok Gehlot, currently, Mangla Oil Field is producing 1.25 lakh barrels of crude oil, earning the state government a royalty of Rs 250 crore per month and Rs 40 crore as sales tax. And, there is more to come now.

Saraswati, the first oil field discovered in Rajasthan, began production on Wednesday. "The quality of crude oil is also better than Mangla as assessed by the American Petroleum Institute. In fact, the quality of Mangla oil would also increase after being mixed with crude oil from Saraswati," Gehlot said.

Saraswati field has estimated reserves of just 36.8 million barrels but expected to go up in future. Meanwhile, Cairn India has also informed that Mangla, the biggest oilfield in the Rajasthan block, is at present producing 125,000 barrels per day but has potential to go up to 150,000 barrels per day without any new investment.

Cairn said, "Our enhanced understanding of the Mangla reservoirs, following development drilling in the field, indicates a production potential of 150,000 barrels per day, subject to joint venture (partner ONGC) and government approval.”

Cairn said it has sale arrangements in place for 155,000 barrels per day of oil from Rajasthan and it is in discussions with the government for finding buyers for additional volumes. It is now focused on the second phase of Rajasthan's development.

Bhagyam field, the second largest find in Rajasthan, is likely to start production in October and will reach plateau production of 40,000 barrels per day by the calendar year-end. Further, Aishwariya field will produce 10,000 barrels per day sometime in second half of 2012 calendar year and together with 150,000 barrels per day of Mangla and 40,000 barrels per day of Bhagyan, total output from Rajasthan would be 200,000 barrels per day (10 million tonnes a year).

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Old March 13th, 2013, 02:28 AM   #9
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June 13th, 2011

PM assures support to Rajasthan in setting up refinery at Barmer Oilfields

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NEW DELHI: Prime Minister Manmohan Singh on Thursday assured support to the Rajasthan government in setting up a refinery at Cairn-operated Barmer oilfields , raising speculation that the cabinet may include it as an additional condition for approving the $9.6-billion Cairn-Vedanta deal. Rajasthan chief minister Ashok Gehlot, who met the Prime Minister on Thursday, confirmed that that Singh had assured his support to the refinery project. "I have told him that the state has agreed to give all fiscal concessions besides making a 26% equity contribution ," Gehlot told ET.

"If Vedanta agrees for an equity participation in the proposed refinery it would certainly make the deal more acceptable, especially to the people of Rajasthan," a cabinet minister said requesting anonymity. He, however, said that technically, approval to the Cairn-Vedanta deal and construction of refinery in Rajasthan were two different things but it could be discussed at the Cabinet Committee in Economic Affairs (CCEA) meeting. Oil minister Jaipal Reddy had told reporters on Friday that the CCEA was soon expected to take a final view on Cairn-Vedanta deal based on a group of ministers' recommendations .

The ministerial panel chaired by finance minister Pranab Mukherjee has suggested CCEA to approve the multi-billion dollar deal only if Vedanta and Cairn agree certain conditions such as sharing $4 billion royalty burden in the Rajasthan block with partner ONGC as per a disputed contract. London-based Cairn Energy is awaiting the government's approval to sell a controlling stake in its Indian arm to Anil Agarwalpromoted Vedanta Resources since August last year. The Rajasthan government is in talks with the central government and ONGC for the refinery project. State chief minister said that staterun Engineers India Ltd had also pledged to pick up a 5% equity stake in the proposed greenfield refinery.

The CM wanted the Prime Minister to persuade state-run ONGC to join the project as lead promoter with 69% equity stake. "Every major state has a refinery but Rajasthan has none despite producing crude oil in huge quantity . The western Rajasthan is extremely backward in terms of economic development so the (local) people must get the benefit of natural resources," Gehlot said. An oil ministry official said, "ONGC's stand on the proposed refinery is consistent that economic viability of the project will depend on fiscal and other incentives by governments at the centre and state."

"Certainly, equity participation by Vedanta or Cairn would minimise risks (for ONGC)," the official said requesting anonymity. Spokesmen of Cairn and Vedanta declined comments on the refinery project. Gehlot said that the state government had accepted to grant all fiscal incentives to promoters of the proposed refinery as per the SC Tripathi committee recommendations . "We are willing for further concessions after discussions with the promoters," he said. The committee, led by former petroleum secretary, recommended that setting up a 4.5-6 million tonne well-head refinery in Barmer (Rajasthan) was viable with some concessions.

Following Tripathi committee recommendations the state government has already roped in state-run Bharat Petroleum Corp for marketing of 75% refined products by providing 5% discount on refinery gate price. The state has also agreed to provide $1 per barrel assistance to the refinery for purchase of crude oil. Rajasthan CM has demanded a 50% excise duty exemption from the centre to make the project viable.

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Old March 13th, 2013, 02:31 AM   #10
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September 10th, 2011

ONGC to spend Rs 1000cr on exploration in Rajasthan,Guj

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The western onshore basin of ONGC plans to spend Rs 1,000 crore on exploration in Gujarat and Rajasthan in two years, Basin Manager P B Pandey said today.

Talking to newsmen here on the occasion of 56th foundation day, Pandey said, "The basin has a target to drill 49 exploratory wells this financial year and also to deploy two 3D-3C, 5 3D and one 2D seismic crew for acquiring high resolution seismic data".

The target for drilling of wells is higher this year due to success in drilling of 43 exploratory wells last year, 21 of which were hydrocarbon bearing.
The success percentage of wells drilled to hydrocarbon bearing was 55.6 per cent which means that for every 1.8 wells drilled, one well was proved successful, said Pandey adding this ratio was considered quite creditable in the hydrocarbon industry.

The significant new finds of the basin in 2010-11, include Vadtal 1, Vadtal 3 and Aliabet 2, of which Aliabet promises to be good find for ONGC, Pandey said.

After failure of GSPCL in finding oil and gas from shallow water in Aliabet, ONGC took it over and started drilling wells there.

"We have started getting about 1.5 lakh cubic meter gas per day from two drilled wells in Aliabet, which promises to be a good find for us," Pandey said.
"Now we will take up a cluster of four wells in this region to save expenditure being incurred on exploration and will start commercial production from it after getting oil from it first, said Pandey.

Because of infrastructure problems and non-availability of shallow rig, the work of drilling of wells in Aliabet is getting delayed, he said.

After Ankleshwar and Gandhar oil and gas field, both Aliabet and Vadtal may turn out to be prospective oil and gas fields, Pandey hoped.
Pandey said a proposal has been sent to the government for increasing production of gas from the gas fields located at Gandhar, about 100 km from Vadodara.

The discovery of huge quantity of gas from the fields in Gandhar in 1983 changed the industrial scenario in Gujarat and other parts of the country as it turned out to be the best region for gas production in the country.
After 28 years since its inception, the production of gas from the Gandhar fields has started declining.

The same is the case with wells drilled in Ankleshwar region in neighbouring Bharuch district from where oil was struck in 1960.
Pandey said that wells are being drilled in the area to get more oil.
Meanwhile, commercial production of gas from three wells dug up in Kayavarohan village,about 15 km from Vadodara, will start soon, Pandey stated adding the company has also taken up of drilling of 8 wells in Padra taluka of the district.

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Old March 13th, 2013, 02:32 AM   #11
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December 10th, 2011

Cairn's Rajasthan oil block has potential to produce 300,000 bpd

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Cairn India's prolific Rajasthan oil block has potential to produce 300,000 barrels per day (bpd), a quarter more than the previously projected peak output.

The company, which has been acquired by London-based miner Vedanta Resources, has told the authorities that Mangala and other oilfields in the block can produce 300,000 bpd, subject to regulatory and partner approval.

Sources privy to the development said Mangala, the biggest of the 18 discoveries that Cairn has made in Rajasthan block, can produce 150,000 bpd against current output of 125,000 bpd.

Bhagyam, the second biggest field in the Rajasthan block, can produce 60,000 bpd as opposed to current approved peak output of 40,000 bpd, while Aishwariya can contribute 25,000 bpd compared to 10,000 bpd previously stated.

Other fields can produce 65,000 bpd.

Sources said Bhagyam field is ready to start production, while Aishwariya would begin output in 2012.

Bhagyam start-up as well as the new production targets are contingent upon oil regulator DGH and the oil ministry approvals.

At present, the approved peak output from Rajasthan is just 175,000 bpd made up of 125,000 bpd from Mangala, 40,000 bpd from Bhagyam and 10,000 bpd from Aishwariya.

For the new peak, the government needs to approve field development and investment plans along with extension of the exploration over the rest of the block.

Cairn India holds 70 per cent interest in the block and state-owned Oil and Natural Gas Corp (ONGC) the remaining 30 per cent.

Cairn India CEO and Managing Director Rahul Dhir had yesterday in a conference call, after Vedanta announced completion of the $8.67 billion takeover, stated that the production from Bhagyam is ready to start subject to regulatory approvals.

He had stated that Rajasthan block can reach 240,000 bpd by the end of 2012.

The start of output from Bhagyam is awaiting ONGC and Management Committee approval. Management Committee is an oversight panel comprising of representatives from the partners, oil ministry and the DGH.

Sources said oil ministry had not approved Bhagyam development since Vedanta announced acquisition of Cairn India.

Cairn and Vedanta have agreed to the government conditions on paying royalty and CESS on Rajasthan block to get approval for the transaction. Since then the deal has closed and Cairn India now hopes to get necessary approvals for output boost, they said.

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Old March 13th, 2013, 02:33 AM   #12
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January 19th, 2012

Rajasthan Joint Venture Starts Oil Production In Bhagyam

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January 19, 2012
ONGC and Cairn – participants in the Rajasthan Joint Venture – have commenced production from the Bhagyam Field in Rajasthan. Bhagyam is the second largest of 25 discoveries made so far by Cairn in the Barmer Basin in Block RJ-ON-90/1.

The Bhagyam reservoir and facilities will entail a gradual and safe ramp up to reach the currently approved plateau rate of 40,000 barrels of oil per day (bopd). The commissioning of Bhagyam is a key milestone towards achieving the target production rate of 175,000 bopd by end FY 2011-12.

The Mangala, Bhagyam and Aishwariya (MBA) fields have gross recoverable oil reserves and resources of approximately one billion barrels. The Rajasthan Joint Venture will contribute more than 20 percent of current domestic crude production when they reach the currently approved plateau rate of 175,000 bopd.

Sudhir Vasudeva, Chairman & Managing Director, ONGC said, “Our joint venture is well placed to further increase production from Rajasthan,” adding that, “Beginning of oil production from Bhagyam field is a significant step towards further development of the MBA fields. This underlines our continued commitment to the optimal development of the Barmer basin in Rajasthan and determination to create value for the people of Rajasthan as well as the country.”

According to Rahul Dhir, Managing Director and Chief Executive, Cairn India, “The commencement of production from the Bhagyam field is yet another significant milestone for the Rajasthan Joint Venture.”

Dhir added that “The commissioning of Bhagyam illustrates how supportive policies are enabling companies to unlock the hydrocarbon potential and create significant value for our Nation. At this momentous occasion, we would like to thank all our partners, stakeholders and the people of Barmer, for their continuous support. We would like to reiterate our commitment to continue to explore, discover and produce more oil to support our country’s growth.”

sourceehttp://www.eurasiareview.com/1901201...on-in-bhagyam/
Oil well that ends well

Quote:
You can get blase talking billions.

And in India, you are constantly reminded of the presence of 1.2bn citizens, the pressure of numbers moving ever more people into remote and desert areas which were barely populated until recently.

One of those is the Thar desert in Rajasthan, near the Pakistan border.

It is said to be the world's most densely populated desert, with 3.5m people in an area the size of Belgium.

Many of them scratch a living out of the sand and scrub, and live in huts made from local shrubs, which look like they offer flimsy resistance when the monsoon comes.

For many, a very modest living can be made from grazing goats, but increasingly, it's in working for or supplying the bonanza taking place in the heart of the area.

That's where lots more billion-sized numbers come in.

It's where Cairn Energy bosses, visiting India this week, seem nonchalant and relaxed about the astonishing scale of what they achieved.

And they take some satisfaction from the impact corporate largesse is having on the local community.

Working with the World Bank, they are funding mobile health clinics, job training and help in setting up a dairy co-operative.

Six billion barrels

Amid all the humungous numbers, perhaps the most remarkable is that it has been done by 100 or so staff at the company's headquarters in Edinburgh's Lothian Road.

From there, the company powered into the FTSE 100 on a vast find in the desert of Rajasthan, west of Delhi and near the Pakistani border.

It reckons there's at least six billion barrels of oil under the sands.

At least one billion of those barrels are defined as 'proven and recoverable'.

If that produces for the next 40 years, at today's oil prices, the fields will deliver $100bn in revenue and other earnings to Indian government.

It ought also to deliver some very healthy profits to the owners of Cairn India, the company spun out by Cairn Energy, based in Delhi and listed in Mumbai.

Its assets were most recently valued (and the oil industry prefers the bigger impact you get with US dollars) at $5.6bn, with profits in 2010 just topping the £1bn mark.

Cairn India is sitting not only on that oil asset but a colossal infrastructure of wells, pipes, a vast processing plant and 400 miles of pipeline to refineries near the coast, heated to ensure a free flow of the black stuff.

It's all been put there in the eight years since the big strike in what became the Mangala oil field.

Slim and start again
Cairn Energy won't be getting so much of that profit though.

The Scottish company is voluntarily powering its way out of the FTSE100: "delivering shareholder value, slimming down, and starting to grow again".

This is on the business philosophy that it's easier to grow a small company quickly than to get the same expansion out of a large company.

And it helps deliver that strategy when they can survey the world's oil and gas prospects for new frontiers, with the calling card of having delivered the dream that keeps every oil prospector drilling.

The slimming down strategy has been to sell 40% of Cairn India, allowing the former parent company to distribute to shareholders a £2.2bn jackpot in the middle of next month.

Faith in family
That stake, along with control of the firm, has gone to Vedanta, owned by Indian metals tycoon Anil Agarwal, who also took on Petronas' former shareholding to get over the 50% line.

So will Cairn continue to be among those enjoying the profits?

Possibly not. It's sitting on 22%, valued at around $2.5bn, or £1.4bn.

It's lost control of the company, and Anil Agarwal is ringing some changes.

Included among those are the appointment of his brother as chairman of Cairn India and his daughter, Priya, to her first board position.

That's putting a lot of faith in family when they're looking after such a valuable asset, in a company that doesn't have much history in oil exploration and production.

That lack of control may accelerate a drawback and perhaps a complete withdrawal by the Scots from Cairn India.

At an extraordinary general meeting at the end of this month, the company is seeking shareholder permission to place blocks of shares on the open stock market when the time and price looks right.

That approach has tax advantages over a direct trade sale.

Such an exit is a possibility being considered with a striking lack of emotional attachment to the monumental achievement that flares gas, its shiny new pipework glistening through the heat haze of the Rajasthani desert - pumping the fuel for the rapid growth of this emerging economic giant.

source:bbc
Overlooked oil and gas sector comes to life

Quote:

Manvendra Singh watched Royal Dutch Shell pack up and leave India. A decade ago, the Indian MP was told by an executive of the oil company, as he closed up his trailer near the arid city of Jaisalmer, that the quality of the oil beneath the Rajasthani desert was good, but there was not enough of it.
So the Anglo-Dutch oil group, after drilling four exploration wells, was going home. It could not have been more wrong. Today Rajasthan is on its way to becoming a mini-Texas, supplying the world’s fastest growing economy after China. Its 125,000 barrels a day of oil represents almost 20 per cent of domestically generated oil supplies to a country home to nearly a fifth of humanity.
More

Rajasthan’s transformation into an oil economy is part of a bigger struggle for India to secure its energy security. Energy weakness is a key vulnerability for the emerging power as it still imports more than 70 per cent of its oil. Its dependence has been highlighted in recent months by the threat of international sanctions against Iran, one of its main suppliers, and a weak local currency.

Supplying India’s power stations with coal and gas and securing oil supplies to refineries is causing increasing concern and will be the subject of a high-level meeting between the country’s industrialists and Manmohan Singh, the prime minister, in New Delhi on Wednesday. Mr Singh is likely to face a barrage of complaints about environmental restrictions on coal and slow approvals of power projects.

However, he can take heart from a reawakening domestic oil and gas sector. Ignored by the world’s big energy companies for most of India’s post-independence history, this sector is showing new life, with energy investments representing the lion’s share of India’s $19.43bn in foreign direct investment in 2011.

Two stand out: one by BP, the British oil group; the other by Vedanta Resources, the UK-listed resources company. India was traditionally sidestepped by the global energy giants. Exploration to the east held better prospects in countries such as Thailand, Indonesia and Malaysia, while smaller countries, such as Nepal and Sri Lanka, were left to the smaller explorers.
India, distrustful of western participation, turned to the Russians to help its state oil companies such as the Oil and Natural Gas Corporation, the developer of the Bombay High field, and the Indian Oil Corporation. Liberalisation in the early 1990s, under Manmohan Singh, the then finance minister, invited the private sector to develop what were considered small fields and catalysed a local industry, led by Reliance Industries in gas production and refining capacity.

But disputes and the threat of value destruction chased away others, such as Enron, and the wider US oil industry. Now the landscape is rapidly changing and Indian energy assets hold renewed international appeal. The shift started with Vedanta, headed by Anil Agarwal, walking into an Edinburgh office and launching a dazzling bid for Cairn India, the company developing the Rajasthan fields. The $6.5bn that Vedanta paid Cairn Energy for its controlling stake is the first step in a broader Vedanta strategy to marry an oil business with metals assets and turn itself into a group to rival BHP Billiton.
While Vedanta battled for approvals, Bob Dudley, BP’s chief executive, swept in to buy a 30 per cent stake worth $7.2bn in deepwater offshore gas production off India’s east coast with Reliance Industries, controlled by Mukesh Ambani. More has since come into play. BG, the oil and gas producer, has put up for sale its 62 per cent stake in Gujarat Gas, worth an estimated $600m, as it turns its attention more squarely to Brazil. A local and international bidding contest is now under way.
Simultaneously, Indian companies are trailing their Chinese counterparts in a search beyond home shores. Gail, the state-owned Indian gas company, and the overseas arm of ONGC are potential buyers of Cove Energy’s 10 per cent share in the Rovuma gas fields off Mozambique. The deal could be worth $1.2bn.

Mr Singh has to harness this dynamism quickly to strengthen his country’s energy profile and has already made significant moves to de-politicise and professionalise the petroleum ministry. However, challenges remain.
First, he must streamline the investment process to minimise interference by a lumbering bureaucracy to make it easier for transactions to take place. It took 18 months for Vedanta to buy Cairn Energy’s stake in its subsidiary, while BP mulled its India investment for three years.

Second, he needs to reinvigorate India’s New Exploration Licensing Policy, which rather than inviting foreign participation to find energy reserves, in recent rounds has acted as a powerful disincentive.

Finally, New Delhi needs to globalise its state-owned oil companies to capture foreign energy assets. The overseas arm of ONGC, seemingly unlucky in developing an international portfolio, would do well to partner a big global energy company.

India turned one unpromising desert into a productive resource. It needs to repeat the miracle to boost its local production from 650,000 barrels of local production a day to more than 1m to take it to higher rates of growth.
source:http://www.ft.com/cms/s/0/3ea33532-4...#axzz1jvfmTe00
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Old March 13th, 2013, 02:36 AM   #13
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January 30th, 2012

Talks with ONGC to set up refinery progress


Quote:
JAIPUR: The state government's talks with Oil and Natural Gas Corporation (ONGC) have reached an advanced stage for setting up of a refinery at Barmer oilfields. The long pending demand of the Rajasthan government to have its first refinery in the state is expected to materialize soon. "Our talks with the ONGC are on and that too at an advanced stage. We will announce the decision when it is made," said a senior official of the state government.

In an estimated project cost of Rs 20,000 crore the state government is in talks with the Central government and wants the ONGC to join the project as the lead promoter with 69% equity stake. Chief minister Ashok Gehlot has also said the state will share 26% of the equity in the project. A state-run Engineers India Limited (EIL) too has shown interest in taking up the other 5% equity in the project. "So far the equity structure is the same as we have not received any new proposal from any other player," added the official.

Despite huge reserves of crude oil and natural gas that have been discovered in Rajasthan, the state doesn't have a refinery. In his earlier statements Gehlot raised this issue and said, "Every major state has a refinery but Rajasthan has none despite producing crude oil in huge quantity. Western Rajasthan is extremely backward in terms of economic development so the (local) people must get the benefit of natural resources".

So far 40 billion cubic meters of gas reserves and 99 billion cubic meters of oil reserves have been found in the Barmer region. The gas and oil production is likely to increase by the end of 2012. "Gas production will go up by 2-3 times in next year. Similarly oil production will also increase. There are also huge deposits of hydrocarbons in the region," said Govind Sharma, principal secretary, mines and petroleum, Rajasthan.

To harness these deposits the state government constituted a committee led by former petroleum secretary SC Tripathi. The committee recommended setting up of a 4.5-6 million metric ton per annum refinery in the first phase.

State government, following Tripathi committee recommendations has already roped in the state-run Bharat Petroleum Corp for marketing of 75% refined products by providing 5% discount on refinery gate price. The state has also agreed to provide $1 per barrel assistance to the refinery for purchase of crude oil. Rajasthan CM has demanded a 50% excise duty exemption from the centre to make the project viable.

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Old March 13th, 2013, 02:37 AM   #14
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April 21st, 2012

थार के काले सोने के भंडार में हुई बढ़ोतरी!

Quote:
जोधपुर.बाड़मेर-सांचौर बेसिन में करीब 7.3 अरब बैरल तेल भंडार मौजूद होने का अनुमान है। उससे अगले चार दशक तक तेल दोहन होने की उम्मीद है। इसके साथ ही रोजाना तीन लाख बैरल तेल उत्पादन होने की उम्मीदों को मजबूती मिली है।

वहीं बाड़मेर के मंगला ऑयल फील्ड में ओएनजीसी और केयर्न इंडिया ने शुक्रवार से रोजाना पौने दो लाख बैरल तेल का उत्पादन शुरू कर महत्वपूर्ण पड़ाव हासिल कर लिया है।इसके साथ ही देश के कुल उत्पादन में से करीब एक चौथाई तेल बाड़मेर बेसिन में उत्पादित होने लगा है। बाड़मेर में अभी तक तेल उत्पादन से केंद्र सरकार को 6 अरब डालर की बचत हो चुकी है।

केयर्न इंडिया के सीईओ राहुल धीर ने वार्षिक वित्तीय परिणामों की घोषणा करते हुए बताया बाड़मेर-सांचौर बेसिन में पूर्व में 6.5 अरब बैरल तेल भंडार होने का अनुमान लगाया गया था, मगर अब कुल 7.3 अरब बैरल तेल भंडार का अनुमान है। इसके बढ़ने की उम्मीद है। इससे बाड़मेर बेसिन में रोजाना तीन लाख बैरल तेल का उत्पादन करने की संभावना को बल मिल मिला है।


कंपनी ने हालांकि अभी तक शीर्ष में 2 लाख 40 हजार बैरल तेल उत्पादन करने का ऐलान किया है। तेल भंडार में बढ़ोतरी के साथ बाड़मेर में प्रस्तावित रिफाइनरी की उम्मीदों को भी मजबूती मिली है।

बाड़मेर में देश का एक चौथाई तेल उत्पादन :

पेट्रोलियम मंत्रालय के मंगला फील्ड में रोजाना पच्चीस हजार बैरल तेल उत्पादन बढ़ाने की मंजूरी जारी होते ही शुक्रवार को डेढ़ लाख बैरल तेल उत्पादन शुरू कर दिया गया। इसके अलावा भाग्यम फील्ड में रोजाना 25 हजार बैरल तेल का उत्पादन हो रहा है। मंगला व भाग्यम में रोजाना कुल पौने दो लाख बैरल तेल का उत्पादन होने लगा है। धीर ने बाड़मेर बेसिन में रोजाना 1 लाख 95 हजार बैरल तेल का उत्पादन होने की उम्मीद जताई है। गौरतलब है केयर्न व ओएनजीसी ने बाड़मेर में 30 अगस्त 2009 से रोजाना 5 हजार बैरल तेल का उत्पादन शुरू किया गया था। अभी तक 250 कुओं की खुदाई करने पर तेल व गैस के 25 भंडार खोजने में सफलता मिली है।

राज्य सरकार को मिलेंगे रोजान 13 करोड़ :

बाड़मेर बेसिन में रोजाना पौने दो लाख बैरल तेल का उत्पादन शुरू होने के साथ ही राज्य सरकार को रोजाना करीब तेरह करोड़ रुपए की रॉयल्टी मिलेगी। अभी सरकार को रोजाना 11 करोड़ रुपए मिल रहे थे। केयर्न इंडिया पिछले ढाई साल में केंद्र व राज्य सरकार को 2.4 अरब डॉलर टैक्स दे चुकी है। साथ ही 343.3 करोड़ डॉलर का निवेश कर चुकी है। इससे 43.8 करोड़ डॉलर चौथी तिमाही में निवेश किए गए हैं।

ऐश्वर्या में होगा साल के अंत में दोहन :

बाड़मेर बेसिन में अभी तक मंगला, रागेश्वरी, सरस्वती व भाग्यम फील्ड में तेल उत्पादन शुरू हो चुका है। ऐश्वर्या ऑयल फील्ड में विकास कार्य चल रहे हैं। इस साल के अंत में उसमें भी उत्पादन शुरू हो जाएगा।

source


Cairn India's Rajasthan block has record 7.3 billion-barrel oil reserve

Quote:
NEW DELHI: Cairn India's Rajasthan block is now estimated to hold a record 7.3 billion barrels of oil reserves that can produce 15 million tonnes of oil, the highest by any field in India, the company said.

The crown-jewel Rajasthan block is now estimated to hold discovered and yet to be discovered reserves of 7.3 billion barrels of oil equivalent, an increase of 12 per cent over previous estimate, the company said in its fourth quarter earnings announcement.


Of these, 3.1 billion barrels of reserves are yet to be discovered. Considering risk prospectivity, 530 million barrels have potential to be recovered.

Cairn India Managing Director and CEO Rahul Dhir said: "The ONGC-Cairn Joint Venture has reached a major milestone of achieving 175,000 barrels of oil per day production from Rajasthan" on April 20.

This production comprises of 150,000 bpd (7.5 million tonnes a year) from Mangala and 25,000 bpd from Bhagyam, the second biggest of 25 oil and gas finds in the Rajasthan block.

Production from Mangala, the largest onland oil field in India, was hiked by 20 per cent within a day of approval.

Cairn had on April 19 secured government approval for hiking Mangala output from 125,000 bpd to 150,000 bpd.

"Positive results of the enhanced oil recovery (EOR) pilot, re-evaluation of the exploration potential in Rajasthan along with the discovered resource support a basin production potential of 300,000 bpd," Cairn said.

Cairn is the operator of Rajasthan block with 70 per cent interest while state-owned Oil and Natural Gas Corp (ONGC) holds the remaining 30 per cent.

"We continue to add value and to contribute to our nation's energy security. Last year, we have reduced oil imports by $ 6 billion and have contributed $ 2.4 billion to the national exchequer," Dhir said.

Mangala field, the largest discovery in Rajasthan commenced production in August, 2009, following a period of five years from discovery to production. The field has consistently produced at its previously approved rate of 125,000 bpd for over one and a half years. Post higher offtake approval, production has been ramped up to 150,000 bpd.

Oil production from Bhagyam commenced on January 19, 2012 and is currently producing 25,000 bpd. Marginal oil field Raageshwari also commenced production on March 8, 2012 and is currently producing in excess of 250 bpd. The Saraswati field commenced production on May 27, 2011 and has produced over 75,000 barrels of oil till date.

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Old March 13th, 2013, 02:39 AM   #15
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April 25th, 2012

जल्द लगेगी रिफाइनरी!

Quote:
जयपुर। राजस्थान में रिफाइनरी का सपना देखने वालों के लिए खुशखबरी है। पता चला है कि बाड़मेर में रिफाइनरी लगाने के लिए अब हिन्दुस्तान पेट्रोलियम कॉरपोरेशन (एचपीसीएल) आगे आया है और ओएनजीसी को एचपीसीएल के साथ मिल कर रिफाइनरी लगाने में कोई एतराज नहीं है। दोनों कम्पनियों में बातचीत चल रही है और सूत्रों का कहना है कि नई कम्पनी में शेयर भागीदारी पर अन्तिम फैसला होते ही रिफाइनरी लगाने की घोषणा हो सकती है। एक उच्च पदस्थ सूत्र का तो यहां तक कहना है कि रिफाइनरी लगना लगभग तय है और अगले साल के अन्त में प्रदेश में होने वाले विधानसभा चुनाव को देखते हुए इसकी औपचारिक घोषणा के लिए 'राजनीतिक मुहूर्त' का इन्तजार है।

जानकार सूत्रों ने बताया कि एचपीसीएल ने राजस्थान रिफाइनरी में रूचि दिखाई है। राज्य सरकार प्रस्तावित रिफाइनरी में 26 फीसदी तथा इंजीनियर्स इंडिया लिमिटेड पांच प्रतिशत की हिस्सेदार बनने को तैयार है। त्रिपाठी कमेटी की रिपोर्ट के अध्ययन व राज्य सरकार को रिफाइनरी को जरूरी रियायतें मुहैया करवाने की सैद्धान्तिक मंजूरी के बाद ओएनजीसी प्रस्तावित रिफाइनरी में 26 फीसदी तक भागीदारी निभाने को राजी हो गई है। वह चाहती है कि 26 फीसदी भागीदारी के साथ कोई तेल विपणन कम्पनी इस प्रोजेक्ट में शामिल हो और आईपीओ (पब्लिक शेयर) के जरिये बाकी राशि जुटाई जा सकती है। सूत्रों का कहना है कि एचपीसीएल के आगे आने के बाद ओएनजीसी के फार्मूले के हिसाब से रिफाइनरी का फैसला जल्दी ही हो सकता है। ओएनजीसी व एचपीसीएल में बातचीत का दौर जारी है।

सरकार प्रारम्भिक तैयारियों में जुटी

एक ओर रिफाइनरी स्थापना का फैसला अन्तिम चरण में है तो दूसरी ओर राज्य सरकार प्रारम्भिक तैयारियों में जुट गई है। सरकार नई कम्पनी बनाने का निर्णय कर चुकी है। नई कम्पनी के लिए पेट्रोलियम निदेशालय ने चार नाम सुझाए हैं जिस पर राज्य सरकार को फैसला करना है। इसके अलावा मंत्रिमण्डल में बाड़मेर की बायतू तहसील के लीलाला, जान्दुओं की ढाणी तथा सरगारी गोदारों की ढाणी में हाइड्रोकार्बन गतिविघियों के लिए 5690 बीघा जमीन अवाप्त करने का फैसला हो चुका है। अवाप्ति का काम जल्दी ही शुरू होगा।

ब्याजमुक्त कर्ज पर होगा निर्णय

राज्य सरकार ने प्रस्तावित रिफाइनरी में 26 फीसदी की भागीदारी लेने तथा बिजली, पानी, जमीन व टैक्स जैसी जरूरी रियायतें देने की सैद्धान्तिक सहमति दे दी है लेकिन 15 साल के लिए सालाना 1100 करोड़ रूपए का ब्याजमुक्त कर्ज देने पर फैसला अभी बाकी है। सूत्रों का कहना है कि सरकार में भले ही इस पर औपचारिक फैसला नहीं हुआ हो पर तेल क्षेत्र से सालाना करीब 4000 करोड़ रूपए की आमदनी को देखते हुए रिफाइनरी के लिए ब्याजमुक्त कर्ज देना घाटे का सौदा नहीं है। उधर, केन्द्र सरकार चाहती है कि यह भी चाहती है कि रियायतों व कर्ज के बारे में 15 साल आगे की अवघि को देखते हुए राज्य सरकार इस बारे में बाकायदा मंत्रिमण्डल में निर्णय करे।

रिफाइनरी लगाने की दिशा में राज्य सरकार ठोस प्रयास कर रही है। सरकार ने पिछले दिनों एसपीवी बनाने व भूमि अवाप्ति जैसे अहम फैसले किए हैं।
सुधांशु पंत, प्रमुख पेट्रोलियम सचिव, राजस्थान
आशुतोष शर्मा

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Old March 13th, 2013, 02:40 AM   #16
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May 16th, 2012

Union petroleum minister jaipal reddy assures the chief minister that decision on establishing an oil refinery in the state will be taken soon.

राजस्थान में तेल रिफाइनरी के संबंध में शीघ्र निर्णय लेंगे


Quote:
नई दिल्ली.राजस्थान के मुख्यमंत्री अशोक गहलोत ने केंद्रीय पेट्रोलियम मंत्री एस. जयपाल रेड्डी से राजस्थान के बाड़मेर में तेल रिफाइनरी की स्थापना करवाने का पुरजोर आग्रह किया है। गहलोत ने सोमवार को नई दिल्ली में केंद्रीय पेट्रोलियम एवं प्राकृतिक गैस मंत्री जयपाल रेड्डी से उनके सरकारी निवास पर भेंट कर प्रदेश में तेल रिफाइनरी की स्थापना के संबंध में विस्तार से वार्ता की।

उन्होंने केंद्रीय मंत्री से प्रदेश में रिफाइनरी की स्थापना के संबंध में शीघ्र ही निर्णय लेने का अनुरोध किया, ताकि राज्य में तेल एवं गैस के मिले अथाह भंडार का लाभ प्रदेशवासियों को मिल सके। मुख्यमंत्री ने रेड्डी को बताया कि बाड़मेर में रिफाइनरी की स्थापना की मांग काफी समय से लंबित है, जबकि पश्चिम राजस्थान में तेल के अथाह भंडार मिलने के बाद से ही रिफाइनरी को लेकर राज्य की जनता द्वारा लगातार इसकी मांग की जा रही है।

भेंट के पश्चात केंद्रीय पेट्रोलियम मंत्री एस. जयपाल रेड्डी ने बताया कि राजस्थान में रिफाइनरी की स्थापना करने के संबंध में मुख्यमंत्री गहलोत ने उपयोगी एवं सारगर्भित सुझाव दिए हैं। साथ ही त्रिपाठी कमेटी की अनुशंसाओं से भी अवगत करवाया है। उन्होंने बताया कि राजस्थान में रिफाइनरी की स्थापना के संबंध में शीघ्र ही फैसला किया जाएगा और हम यथासंभव राजस्थान की अपेक्षाओं के अनुकूल निर्णय करेंगे। रेड्डी ने कहा कि राजस्थान सरकार के प्रस्ताव अच्छे हैं।

पिछले दिनों तेल की कीमतें बढ़ी हैं। इस परिप्रेक्ष्य में विभिन्न तेल कंपनियों के साथ वार्ता की जा रही है और हमें आशा है कि रिफाइनरी के संबंध में हम शीघ्र ही आशानुरूप फैसला करेंगे।

इस अवसर पर मुख्यमंत्री गहलोत ने बताया कि केंद्रीय पेट्रोलियम मंत्री के साथ सकारात्मक बातचीत हुई है और आशा है कि वार्ता के अच्छे परिणाम मिलेंगे। उन्होंने बताया कि केंद्र द्वारा गठित विशेषज्ञ समिति रिफाइनरी संबंधी प्रस्ताव का परीक्षण कर रही है और ओ.एन.जी.सी. एवं एच.पी.सी.एल. के साथ ही सकारात्मक सोच के साथ वार्ता जारी है।

मुख्यमंत्री ने बताया कि हाल ही में ओएनजीसी के अध्यक्ष एवं प्रबंध निदेशक ने भी अपने जयपुर प्रवास में उनसे रिफाइनरी और सौर ऊर्जा परियोजनाओं के संबंध में विचार -विमर्श किया है।
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Old March 13th, 2013, 02:41 AM   #17
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June 5th, 2012

HPCL keen on oil refinery at Barmer in Rajasthan

Quote:
NEW DELHI: With ONGC deterring from building a refinery in Rajasthan, state-owned Hindustan Petroleum (HPCL) has expressed interest in setting up a 9 million tonne unit at the site of the massive oil find at Barmer district.

HPCL, which owns a refinery at Mumbai and Visakhapatnam in Andhra Pradesh and is equal partner in the just commissioned Bhatinda refinery in Punjab, is keen to take up the project, sources privy to the development said.

Oil and Natural Gas Corp (ONGC), which owns 30 per cent interest in the Barmer oilfields of Cairn India, had in 2005 committed to building the refinery but later started soft- peddling the project.

Sources said HPCL has now entered the fray and has proposed to take 51 per cent stake in the project. ONGC, which originally had the authorisation from the government for processing the Barmer crude at the proposed refinery, would hold 26 per cent interest.

Cairn India, which holds 70 per cent interest in the fields, currently produces about 175,000 barrels per day oil (8.75 million tonnes a year) from the Rajasthan fields and has potential to go up to 300,000 bpd (15 million tonnes).

Sources said Rajasthan government has started the process of land acquisition of about 926 hectares.

Cairn India's Barmer find is now estimated to hold 6.5 billion barrels (900 million tonnes) of oil equivalent in place.

Production from Mangala oilfield, the largest of the 24 finds in the block, started on August 2009 and currently Mangala, Bhagyam and Aishwariya fields are producing about 175,000 bpd.

ONGC, after the exit of its flamboyant chairman Subir Raha whose brainchild was the setting up of the refinery, got SBI Caps to do a Financial Appraisal Study for the Rajasthan refinery.

The study found that a 7.5 million tonnes unit at Barmer would give just 1.15 per cent return and the company sought fiscal support at the rate of Rs 1,300 crore per annum in interest free loan for first 16 years.

With state persisting with the project, the Centre appointed a BC Tripathi Committee, which recommended that the state government take 26 per cent equity in the project and give 50 per cent exemption in excise duty to make it viable.

After submission of the Tripathi Committee report, ONGC once again examined detailed feasibility for a 4.5 million tonnes unit capacity through EIL in 2010 and subsequent financial appraisal by SBI Caps in 2011.

As per the financial analysis of the merchant banker, the project was not viable on standalone basis and required interest free loan of approximately Rs 1,100 crore per annum for 15 years from Rajasthan government.

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Old March 13th, 2013, 02:43 AM   #18
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July 21st, 2012

Vedanta offers to buy small stake in Rajasthan refinery

Anil Agarwal meets Rajasthan CM, expresses interest in proposed refinery

Quote:
With Vedanta Resour-ces’ takeover of Cairn India, the proposal to have a petroleum refinery in Rajasthan seems to have been revived. The group is likely to buy stake in the proposed project.

Vedanta Group’s Chairman Anil Agarwal met Rajasthan Chief Minister Ashok Gehlot on Friday in New Delhi, where the issue came up for discussion. Gehlot also met Prime Minister Manmohan Singh, Home Minister P Chidam-baram and Deputy Chairman of Planning Commission Montek Singh Ahluwalia, where he is understood to have raised the issue of refinery and enhancement of production from Cairn’s Barmer field, besides other socio-economic issues.

A Rajasthan government’s press statement said Agarwal had expressed interest in participation in the refinery project. He also discussed the additional oil production potential in Rajasthan. He discussed the need for continuing exploration to achieve the target of three lakh barrels of oil per day and beyond from Barmer. Cairn India is producing 1.75 lakh barrel oil per day from Barmer.

According to the statement, he assured the chief minister that Vedanta would support the refinery by having a small stake in the project.

The chief minister, on his part, assured full support of the government in achieving the target of three lakh barrels of oil per day from Barmer. At three lakh bopd, Rajasthan would meet about 50 per cent of the country’s domestic crude oil production.

Post these meetings, the chief minister said he had already appraised the Prime Minister, the UPA chief Sonia Gandhi and the Union petroleum minister about common man’s feeling about the refinery in Rajasthan.

source
Vedanta eyes stake in a new Rajasthan refinery

Company will support the upcoming refinery in Barmer by having a small stake in the project

Quote:
Close on the heels of Hindustan Petroleum Corp Ltd (HPCL) reviving the Rajasthan refinery project, London-based mining group Vedanta has evinced interest in taking a small stake in the 9 million tonnes a year project.

Vedanta Group Chairman Anil Agarwal met Rajasthan Chief Minister Ashok Gehlot to discuss the issue of the proposed refinery in the state.

"With a positive gesture, he (Agarwal) expressed his interest in participation in this ambitious project," the Rajasthan government press statement said.

Stating HPCL and the state government were in discussions about the refinery, it said: "He (Agarwal) assured the Chief Minister that Vedanta would support the refinery by having a small stake in the project".

HPCL has expressed interest in building a 9 million tonnes refinery at the Barmer oil find of Cairn India, which was last year acquired by Vedanta for $8.67 billion.

Oil and Natural Gas Corp (ONGC), which owns 30% interest in the Barmer oilfields of Cairn India, had in 2005 committed to building the refinery but later started soft-peddling the project.

Sources said HPCL has now entered the fray and has proposed to take 51% stake in the project. ONGC, which originally had the authorisation from the government for processing the Barmer crude at the proposed refinery, would hold 26% interest.

Engineers India Ltd (EIL) has evinced interest in taking 5% stake in the project.

Cairn India, which holds 70% interest in the fields, currently produces about 175,000 barrels per day oil (8.75 million tonnes a year) from the Rajasthan fields and has potential to go up to 300,000 bpd (15 million tonnes).

Sources said Rajasthan government has started the process of land acquisition of about 926 hectares.

The state government may also take equity in the project besides giving fiscal concessions like 50% exemption in excise duty to make it viable.

"Gehlot while continuing his efforts for overall development of state including set up of a refinery in Rajasthan, on Friday evening he met with Prime Minister Manmohan Singh, Home Minister P Chidambaram & Deputy Chairman of Planning Commission Montek Singh Ahluwalia and discussed various development issues specially on infrastructure development," the statement said.

The Chief Minister assured full support of the government in achieving the target of 300,00 bpd from Barmer.

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Old March 13th, 2013, 02:44 AM   #19
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July 29th, 2012

Land acquisition for refinery begins.

रिफाइनरी के लिए भूमि अवाप्ति की कार्यवाही शुरू


Quote:
जयपुर.मुख्यमंत्री अशोक गहलोत बाड़मेर में रिफाइनरी स्थापना के मामले में 15 अगस्त तक महत्वपूर्ण ऐलान कर सकते हैं। इन दिनों मुख्यमंत्री और पेट्रोलियम विभाग के अधिकारी इस मामले में केंद्रीय पेट्रोलियम मंत्रालय के अधिकारियों से भी नियमित रूप से सपंर्क में हैं। राज्य सरकार ने रिफाइनरी के लिए बाड़मेर जिले के तीन गांवों और चार ढाणियों से जुड़ी करीब पौने चार हजार बीघा जमीन की अवाप्ति की कार्यवाही शुरू कर दी है।

अधिकारियों का कहना है कि राज्य सरकार के चार साल पूरे होने से पहले रिफाइनरी की घोषणा हो सकती है। सरकार इस मामले को लेकर काफी संवेदनशील है और इसे सीधे मुख्यमंत्री कार्यालय से ही डील किया जा रहा है। खुद मुख्यमंत्री रिफाइनरी की स्थापना के लिए केंद्र सरकार पर दबाव बनाए हुए हैं। उन्होंने सोनिया गांधी से मुलाकात के दौरान भी इस मसले को उठाया था। सोनिया गांधी ने पेट्रोलियम मंत्री को राजस्थान में रिफाइनरी स्थापना के लिए कह भी दिया है।


रिफाइनरी के लिए जमीन की अवाप्ति की कार्रवाई भी सरकार ने शुरू कर दी है। इसके लिए जारी सूचना में कहा गया है कि बाड़मेर जिले के राजस्व गांवों लीलाला, जांदुओं की ढाणी और मीठिया तला के साथ बनाणी ढाणी, जाखड़ों की ढाणी, भादुओं की ढाणी, बांगड़वों की ढाणी क्षेत्र में रिफाइनरी लगाई जाएगी। यह रकबा 926 हैक्टेयर (करीब 3704 बीघा) है।

क्या होगी रिफाइनरी की क्षमता :

हिंदुस्तान पेट्रोलियम कॉरपोरेशन (एचपीसीएल) ने पिछले दिनों यहां मुख्य सचिव के सामने रिफाइनरी लगाने की संभावनाओं को लेकर प्रजेंटेशन दिया था। वैसे इससे पहले त्रिपाठी कमेटी की ओर से दी गई रिपोर्ट में 4.5 मिलियन टन से लेकर 6 मिलियन टन की क्षमता की रिफाइनरी लगाने की सिफारिश की थी। यह सिफारिश तत्कालीन समय की उत्पादन को लेकर की गई थी, जबकि वर्तमान में उत्पादन 1,75,000 बैरल प्रतिदिन तक हो गई है।

क्षमता 3,00,000 बैरल प्रतिदिन करने की केंद्र सरकार से मांग की गई है। माना जा रहा है कि रिफाइनरी की क्षमता इतनी ही की जा सकती है।

उल्लेखनीय है कि केयर्न इंडिया की ओर से बाड़मेर-सांचोर बेसिन के मंगला, भाग्यम और एश्वर्य (एमबीए) में 6.5 बिलियन बैरल (900 मिलियन टन) कच्च तेल उपलब्ध है। वैसे केंद्र सरकार ने अभी तक 3.7 बिलियन बैरल (480 मिलियन टन) प्रमाणित किया है।

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Old March 13th, 2013, 02:44 AM   #20
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August 4th, 2012

Oil reserves found in Jaisalmer

Quote:
Jaisalmer: Public sector company Oil India Ltd (OIL) has for the first time found oil reserves at Poonam Singh ki Dhani in Nachna area of Jaisalmer 1,230 metre below the ground.

According to sources, digging of oil well is going on at the allotted block RJON 2004/2 NILP/16 in Nachna area for the last few days and good quality oil reserves have been found at a depth of 1,230 metre. Samples of the findings have been sent for testing. OIL will also dig one more well near the existing well to find out if there are more reserves, company officials said.


Sources said this is the first success of finding crude oil in Rajasthan by OIL. Prior to this, the company had found large oil reserves in two wells dug at Bagewala in Nachna area. However, it was heavy oil and required advanced technique of exploring with higher cost, the pilot project had to be abandoned.

Oil India is producing seven lakh cubic metre of gas from the wells in Jhandewala area of Tanot. The gas through GAIL India is being supplied to gas based-thermal power project at Ramgarh.

ONGC is also exploring for gas and oil in Gotaru sector, but has found only a few gas reserves and small quantity of condense oil and could not get any big success in its efforts.

source
Oil India finds new oil reserves in Nachna area

Quote:
JAISALMER: Public sector oil company Oil India Limited has discovered oil reserves in an oil well in the Nachna area at a depth of 1,229 metres. Two months ago also the firm had found oil reserves in a well. Oil found in both these wells comes in the category of heavy oil but India still does not have the technique to exploit heavy oil. Thus, Oil India has invited tenders from international consultants for the technique to exploit this type of oil.

During exploration works, oil and gas was found in many areas like Barmer, Jaisalmer and the Bikaner basin of Thar Desert.

Cairn India in Barmer after finding oil reserves has started producing 1.75 lakh barrels of oil, which is contributing 20% to the total consumption in India. After discovering new oil reserves, Cairn India has demanded permission from the union petroleum ministry for increasing oil production. Similarly, Focus Energy in Jaisalmer is locating new gas reserves continuously. The gas quantity is so high that that power projects of 1,000-1,500Mw can be established here.

Sources said that Oil India had recently dug a second well at a depth of 1,229 metres at Prayag Singh ki Dhani in Nachna area and last week oil reserves were found. The quality of oil is thick. In the same area, another well was dug and same kind of oil was found at 1,242 metres. Oil India is testing the oil.

Oil India Rajasthan project in-charge and general manager GK Bargoi said, "Oil testing is being done. Both the quantity and quality of oil are being ascertained."

He added, India does not have the technique to exploit this heavy oil and tenders have been invited from global players.

Bargoi said that few years ago, Oil India in Vaghewala area in Jaisalmer had dug wells and had found reserves of heavy oil. Help was sought from experts from Venezuela but oil could not be produced with that technique. Now tenders have been invited from international consultants. It must be mentioned that the Vaghewala area has 25 million tonne heavy oil reserves and 53 tonne bitumen reserves.

Principal secretary mines and petroleum Sudhansh Pant said, "Talks are on with the officers on how to exploit the heavy oil. Strategy to exploit oil will be decided after discussion with senior officers."

source
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