technical booklet of farming-out of gspc share in ... · technical booklet of farming-out of gspc...

Farming out facilitators : Gujarat Energy Research and Management Institute,Gandhinagar,Gujarat

(GSPC share) 2019

TECHNICAL BOOKLET OF

FARMING-OUT OF GSPC SHARE IN EXPLORATION AND PRODUCTION FIELDS

TECHNICAL BOOKLET OF FARMING-OUT OF GSPC SHARE IN EXPLORATION AND PRODUCTION FIELDS2

ASSET SUMMARY

TECHNICAL DETAILS OF OPERATING AND NON OPERATING TWELVE FIELD FOR FIFO

No. FIELDS Company Name (Stake) O-Stand for Operator

1 UNAWA GSPC Ltd. (70%) – (O), GOGL (30%)

2 MIROLI (CB-ONN-2002/3) GSPC Ltd. (55%) – (O), JOGPL (20%) - HPCL (15%) - GGR (10%)

3 UBER (CB-ONN-2004/3 ) ONGC (65%) – (O), GSPC Ltd. (35%)

4 KUTCH-SAURSAURASHTRA GK-OSN-2009/1 (Off-shore) ONGC (40%) – (O), Adani (20%), GSPC Ltd. (20%), IOCL (20%)

5 VADATAL (CB-ONN-2004/2) ONGC (55%) – (O) ,GSPC Ltd. (45% )

6 KARANNAGAR (CB-ONN-2004/1) ONGC (60%) – (O), GSPC Ltd. (40%)

7 MB-OSN-2005/1 (Off-shore) ONGC (80%) – (O), GSPC Ltd. (20%)

8 ALLORA GSPC Ltd. (70%), GOGL – (O) 30%

9 DHOLASAN GSPC Ltd. (70%), GOGL – (O) 30%

10 NORTH KATHANA GSPC Ltd. (70%), GOGL – (O) (30%)

11 BHANDUT Oilex NL Holding (India) Ltd (40%) – (O), GSPC (60%)

12 HAZIRA GSPC Ltd. (66.6%), Sun Petro (33.3%) – (O)

TECHNICAL BOOKLET OF FARMING-OUT OF GSPC SHARE IN EXPLORATION AND PRODUCTION FIELDS 3

LOCATION MAP OF ONSHORE ASSETS


TECHNICAL DETAILS OF Off SHORE ASSETS

No. FILEDS GSPC (STAKE), O- Stands for operator.

1 KUTCH-SAURSAURASHTRAGK-OSN-2009/1 (Off-shore) ONGC (40%) – (O), Adani (20%), GSPC Ltd. (20%), IOCL (20%)

2 MB-OSN-2005/1 (Off-shore) ONGC (80%) – (O), GSPC Ltd. (20%)


LOCATION OF OFFSHORE ASSETS

TECHINCAL DETAILS OF Off SHORE ASSTES

Location of OFFSHORE ASSETS

No. FILEDS GSPCSTAKE(O-operator)

1. KUTCH-SAURSAURASHTRAGK-OSN-2009-1(Off-shore)

ONGC (40%) – (O), Adani (20%), GSPC Ltd.(20%),IOCL(20%)

2. MB-OSN-2005/1(Off-shore) ONGCONGC(80%)–(O),GSPCLtd.(20%)

1

2


UNAWA

Gross 2P and 2C Volumes (April 1, 2018)

Oil (MMBBL) Gas (BCF)

2P - -

2C 0.03 0.03

2P + 2C 0.03 0.03

PSC Terms

Working Interest(Operator highlighted in Bold)

• GSPC (70%)• GNRL (30%)

PSC Validity • 2023

PSC Regime • Pre-NELP

Royalty and Cess• Oil royalty at INR 528/

MT• Cess at INR 900/MT

Cost Recovery • 80% of revenues

Profit Oil share to GOI• Ranges from 0% to 30%

for PTIM in the range of 1 to ≥3

Production & Drilling History

• 2 exploration wells drilled with commercial discoveries made in 1 well

• Current Gross Production – Nil

• Cumulative production of 0.220 MMBL of Oil and 0.013 BCF of Gas as on July 1, 2016.

Asset Highlights

• 5.65 sq km acreage, located in the prolific Oil and Gas producing Cambay Basin.

• No future CAPEX commitment


UNAWA

Location

Xline passing through an area

Time Structure Map

Log Motif


MIROLI (CB-ONN-2002/3)



2P 0.12 -

2C - -

2P + 2C 0.12 -

PSC Terms


• GSPC (55%), JOGPL (20%), HPCL (15%) & GGR (10%)


PSC Regime • NELP-IV

Royalty and Cess • Oil royalty at INR 12.5%• Gas royalty at 10%





• 8 Wells drilled with two commercial discoveries.

• Current Gross Production : Nil

• Cumulative production 3819 BBL of Oil

Asset Highlights

• 3.29 sq km acreage, located in the prolific Oil & Gas producing Cambay Basin.

• Shallower Kalol formation can be prolific resources


MIROLI (CB-ONN-2002/3)

Location


Time Structure Map

Log Motif


UBER (CB-ONN-2004/3)


Oil(MMBBL) Gas (BCF)

2P 0.144 3.11

2C - -

2P + 2C 0.144 3.11

PSC Terms


• ONGC (65%), GSPC (35%)

PSC Validity 2032 (ML)

PSC Regime • NELP-VI

Royalty and Cess Oil Royalty 12.5% Gas Royalty 10%


Profit Oil share to GOI• Ranges from 70% to 76% for PTIM in the range of <1 to >=3.5


• 8 exploration wells drilled with commercial discoveries made in 1 well (UBER-2)

• Existing well UBER-2 connected to Jambusar Gas by 4” pipeline (About 15Km).

• Existing facilities of Jambusar GGS of ONGC will be utilised

Asset Highlights

• 10.78 sq km acreage, located in the prolific Cambay basin (near Jambusar) Dist.: Bharuch

• Tentative production from UBER 2 would be around 40,000m3/day of gas & 21m3/day of condensate

• Committed OPEX in FDP 2.5 MM USD

• Estimate revenue as per FDP 21.66 MM USD

• Production from this field will start from March 2019.

• Main Pay Zone: GS-6 Sand (Hazad Formation of Mid Eocene age).


UBER (CB-ONN-2004/3)

Location


Time Structure Map

Log Motif


KUTCH SAURASHTRA OFFSHORE (GK-OSN-2009/1)

Asset Highlights

Cumulative investment till 31.03.2018

54.49 MM USD

GSPC share of cost 10.354 MM USD

• Original area 2811Sq.Km.

• Now retained area is 517 sq km , located in south offshore of Kutch

• Main Pay : Weathered Dolerite

• Age of Pay: Creteceous



2P - -

2C - 434.19

2P + 2C - 434.19

PSC Terms


• ONGC (40%), GSPC (20%), AWEL (20%) and IOCL (20%)

PSC Validity 11th November 2019 (DoC last date for submission)

PSC Regime • NELP-VIII

Royalty and Cess

• Oil royalty 12.5% of well head value and Gas royalty 10% of well head value

• Cess : -



for PTIM in the range of 1 to ≥3.5


• 1 exploration well drilled with commercial discoveries (NDA-1)

• Block is in appraisal phase where GSPC is non-consenting partner

• JV other than GSPC has drilled two appraisal wells

• Discovery in exploratory well NDA - 1 : GIIP 5.8 BCM New discovery in appraisal well NFA - 1 : GIIP 6.5 BCM


KUTCH SAURASHTRA OFFSHORE (GK-OSN-2009-1)

Location

Inline 1050 passing through an area

Time Structure Map

Log Motif


VADATAL (CB-ONN-2004/2)

Asset Highlights


65 MM USD

Project Cost to be incurred 50.7 MM USD


• Now retained area is

• Vadatal#1: 14.37 Sq Km;

• Vadatal Ext-I(3&5): 73.99 Sq Km

• These fields are located in Tarapur block of Cambay Basin

• Two fields (area) namely, Vadatal-3 and Vadatal-5 are prolific producers. Production from these areas will increase on drilling of two development wells which are planned in FY 2019-20



2P 12.1 3.97

2C - -

2P + 2C 12.1 3.97

PSC Terms


• ONGC (55%), GSPC (45%)

PSC Validity • Vadatal-1 : 2030 (ML)• Vadatal-3 & 5: 2037 (ML)


Royalty and Cess

• Oil royalty 12.5% of well head value

• Gas royalty 10% of well head value

• Cess : -





• 9 exploration wells (Vadatal-1,2,3,4,5,6,9,10&11) drilled with commercial discoveries made in 3 wells (Vadatal-1,3 &5)

• Three Appraisal wells (Vadatal-7, 8 & 8z) drilled for Vadatal-1 discovery.

• Current Gross Production: 3 BOPD from 1 well from Vadatal-1 field, 90 BOPD from 1 well from Vadatal-3 field, 60 BOPD from 1 well from Vadatal-5 field

• Cumulative production of 19,800 BBLs from Vadatal-1 (since 29.03.2015)




VADATAL (CB-ONN-2004/2)

Location


Time Structure Map

Log Motif of Vadatal-3


KARANNAGAR (CB-ONN-2004/1)

Asset Highlights

Cumulative Exploratory cost incurred 31.3.2018

19.7 MM USD

Cumulative CAPEX (development cost) till 31.3.2018

1.5 MM USD

Committed CAPEX in FDP 1.9 MM USD

Cumulative OPEX (production cost) till 31.3.2018 (including

royalty and cess)

1.6 MM USD

Committed OPEX in FDP 4.8 MM USD

Cumulative revenue till 31.03.2017

1.4 MM USD

• Original area 32 Sq.Km,

• Now retained ML area is 9.73 sq km , located in the prolific Mehsana- Ahmedabad block of Cambay basin

• Well K-1, K-4 ,K-5 are located in retained area

• No future Capex commitment



2P 0.108 -

2C - -

2P + 2C 0.108 -

PSC Terms


• ONGC (60%), GSPC (40%)

PSC Validity • 19th March, 2027 (ML)


Royalty and Cess

• Oil royalty 12.5% of well head value

• Gas royalty 10% of well head value

• Cess : -





• 2 exploration wells (K-1 and K-2) drilled with commercial discoveries made in 1 well (K-1)

• 1 Appraisal well (K-3) was gone dry.

• ML was issued on 20.03.2015, and production from K-1 started from 25.03.2015

• 2 Development wells (K-4,K-5) drilled, one (K-4) is producing other has gone dry

• Development well K-4 initial produced on self for five months then subsequently it was hydro-fractured and is producing on SRP from 2016

• Current Gross Production: 15-20 BOPD from 2 wells (K-1 and K-4)

• Cumulative production of 36608 BBL


KARANNAGAR (CB-ONN-2004/1)

Location


Time Structure Map

Log Motif


MB-OSN-2005/1

Asset Highlights


138.7 MM USD

Project Cost to be incurred 1156.44 MM USD


• Now retained area is 1250 sq km , located in south East offshore of Diu Mumbai offshore basin

• This gas discovery is near Tapti-Daman block where several gas pools are on operation or under development .

This area is located around 58 Kms from block C-24 RP (riser platform) and around 78 kms from TCPP process facility. Considering these nearby facilities for processing well fluid, evacuation and development concepts are proposed.

• Main Pay : Daman



2P - -

2C 7.34 367.9

2P + 2C 7.34 (condensate) 367.9

PSC Terms


• ONGC (80%), GSPC (20%)

PSC Validity FDP submission date 25th July 2019

PSC Regime • NELP-VIII

Royalty and Cess

• Oil royalty 12.5% of well head value and Gas royalty 10% of well head value

• Cess : -





• 4 exploration wells (NAA-1, NBA-1, NCA-1 NDA-1) drilled with commercial discoveries made in 2 wells (NAA-1 , NBA-1)

• NAA-2 was drilled as Appraisal well of NAA-1 discovery, where there was Gas discovery in new zone.

• NBA-2 was drilled as appraisal well of NBA-1 discovery, which has gone dry.

• NAA-3 was drilled as appraisal well of NAA-2 new discovery, which has gone dry.

• DoC was approved on 26.07.2018


MB-OSN-2005/1

Location


Time Structure Map

Log Motif of NAA-1


ALLORA


• Total wells drilled: 5, ONGC-4 & GSPC-GNRL JV-1. Discovery- 1.

• Currently 2 wells i.e. AL-1 & AL-2 are shut down due to technical issues in the wells.

• Work-over planned in current financial year to revive the production.

• Cumulative production of 0.025 MMBBL oil as of 31st March 2018.

Asset Highlights

• Pre-NELP small marginal field

• 6.85 sq km acreage, located in the prolific Cambay basin

• Attractive fiscal terms

• 5.2 MMBBLs of OIIP

• New 3D Data purchased from NDR



2P 1.854 -

2C - -

2P + 2C 1.854 -

PSC Terms


• GNRL (30%)• GSPC (70%)









ALLORA

Location


Time Structure Map

Log Motif


DHOLASAN

PSC Terms


• GNRL (30%)• GSPC (70%)









• Total wells drilled: 4; Discovery wells: 2

• Currently producing 20-25 bbls of oil from 2 wells

• Installation of SRP planned in current year to increase & optimize the current production rates

• Cumulative production of 0.022 MMBBL oil as of 31st March 2018

Asset Highlights







2P 3.443 -

2C - -

2P + 2C 3.443 -


DHOLASAN

Location


Time Structure Map

Log Motif


NORTH KATHANA



2P 0.254 -

2C - -

2P + 2C 0.254 -

PSC Terms


• GNRL (30%)• GSPC (70%)









• Total wells drilled: 5; Discovery wells: 2

• Currently producing approximately 5 bbls of oil from 1 well.

• Work-over planned in current financial year to revive the production.

• Cumulative production of 0.05MMBBL oil as of 31st March 2018.

Asset Highlights






NORTH KATHANA

Location


Time Structure Map

Log Motif


BHANDUT



2P 0.313 0.66

2C - -

2P + 2C 0.313 0.66

PSC Terms


•GSPC (60%), Oilex (40%)




MT;• Cess INR 900/MT





• 7 wells drilled

• Production commenced in Jan 2007

• Cumulative production of 28,000 BBLS Oil and 74 MMSCF of Gas

Asset Highlights


• Attractive fiscal terms - low profit share to government

• Development plan is focused on Miocene sands

• PSC is extended for next 10 years (beyond 2019)

• Significant upside potential.


BHANDUT

Location


Time Structure Map

Log Motif


HAZIRA



2P 0.05 0.9

2C - -

2P + 2C 0.05 0.9

PSC Terms


• GSPC (66.67%), SUN PETRO (33.33%)

PSC Validity 2019


Royalty and Cess

• Oil royalty at INR 481/MT

• Cess at INR 900/MT• Gas royalty at 10%



for PTIM in the range of <1 to >=3.5


• 39 wells drilled out of which 5 wells are under production

• Current Production is 0.4 MMSCF of Gas and 80 BOPD of Oil

• Cumulative production of 1.5 MMBBL Oil and 344 BCF Gas

Asset Highlights

• 50 sq km shallow-water acreage.

• Shallow reservoirs having high porosity and permeability

• Established evacuation infrastructure for gas

• Asset under production since July 1995


HAZIRA

Location


Time Structure Map

Log Motif

Ground Floor, Energy Building, Pandit Deendayal Petroleum University Campus, Raisan, Gandhinagar, GUJARAT 382 007 URL: www.germi.org

GUJARAT ENERGY RESEARCH & MANAGEMENT INSTITUTETRAINING & DEVELOPMENT CENTRE

technical booklet of farming-out of gspc share in ... · technical booklet of farming-out of gspc...

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