Search Result for : Oil India Limited

PTI The government will on Monday sign contracts for the 31 small discovered oil and gas fields it had auctioned in the first bid round in more than six years. State-owned oil firms IOC, BPCL and HPCL had cornered a third of the fields whose award was confirmed by the Cabinet last month. “Contracts with successful bidders will be signed on March 27,” a senior official said. Touted as an auction round that would replicate the shale gas revolution of the US, half of the fields went to new and lesser known entrants like engineering company Megha Engineering & Infrastructure, KEI-RSOS Petroleum, Enquest Drilling and Nippon Power. The Cabinet Committee on Economic Affairs (CCEA) had approved award of 31 fields out of 34 that received ...

The Dollar Business Bureau Oil India Limited (OIL) has inked an MoU with the University of Houston to strengthen its existing reserves base and increase oil recovery from its ageing oil fields.  Petroleum and Natural Gas Minister Dharmendra Pradhan on Tuesday signed the agreement with University of Houston CMD (Oil) Utpal Bora. Pradhan said the agreement will help with the pilot study of CO2 capture technology application in Assam oil fields. “Innovation, institutional hand-holding and scientific temperament is the way ahead for oil and gas sector's growth. If there is (a) good strategy, innovative technology and willpower, a good ecosystem can be formed that will help in more oil recovery from the oilfields," Pradhan said.  The key objective of this MoU is to collaborate in ...

The Dollar Business Bureau A consortium of oil companies from India, including Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Ltd (BPRL), is going to acquire 23.9 percent share in JSC Vankorneft and 29.9 percent share in Tyngd from LLC RN Upstream, a fully-owned arm of Rosneft Oil Company, national oil company of Russia. The definite definitive contracts for the same were signed on March 16, 2016. “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to an Indian Consortium comprising Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat Petro Resources Limited (BPRL) for acquiring 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) ...

Anagreement wassigned between three Indianoil majorsto buy theshare of Russias Taas-Yuriakh in East Siberia The Dollar Business Bureau Multilateral trade deal signed to secure 29.9% shares in Taas-Yuriakh, Russia in East SiberiaWith an aim to acquire 29.9% shares in Russias Taas-Yuriakh in East Siberia, various large oil companies from India signed a contract on Wednesday. Bharat Petroleum Corporation limited (BPCL) and its production and exploration arm, as well as Oil India Ltd. (OIL) and Indian Oil Corporation Ltd. (IOCL) signed a definitive contract with Rosneft, a national oil company of Russia. OIL, IOCL and BPRL also signed a contract with Rosneft and an MoU for apossible stake in the Vankor cluster field. TYNGD is currently producing around 20,000 bopd, which is expected to be ...