Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Oil India Limited commences first ever seismic survey in the state of Tripura

Posted On: 2021-01-27 23:02:28 (Time Zone: Arizona, USA)


Oil India Limited (OIL), India's second largest National 'Navratna' E&P Company, in terms of total proved plus probable oil and natural gas reserves, has kick started its exploration and production operations by launching its first ever seismic survey in the North-Eastern state of Tripura.

The beginning of the year 2021 has ushered in yet another milestone for OIL INDIA LIMITED(OIL) with the commencement of seismic survey operations in the OALP-III block AA-ONHP-2018/5 on 17.01.2021. Geologically, the block lies in the Tripura-Cachar fold belt and is a border state of the country surrounded on all sides by the deltaic basin of Bangladesh except for a small part in north-east which adjoins the Cachar district of Assam and the state of Mizoram.

The block AA-ONHP-2018/5, located in the Santirbazar subdivision of South Tripura district in the southern part of the state, covers an area of 207.74 Sq Km and the committed work programme is to acquire 200 GLKM of 2D seismic & 185 Sq. Kms. of 3D seismic data and dri11 6 nos. of exploratory wells.

The RSC (Revenue Sharing Contract) between the Govt. of India and OIL for the Block was signed on 16.07.2019. Subsequently the State Government of Tripura had awarded the Petroleum Exploration License (PEL) on 16.10.2019. The logistics are challenging in this block and the OIL has chalked out extensive plans for seamless execution of its exploration campaign. While OIL will also be commencing execution of its field development plans in the neighbouring DSF block Tulamara, based on success in its exploration campaign the Company intends to carry further exploration activities in the State of Tripura to access more hydrocarbon resources in this gas prolific area.

Apart from consolidating its position in Northeast and Rajasthan, OIL has made conscious efforts to carry out exploration in Category II & III sedimentary basins in line with Government of India's thrust for exploration. This is in line with the vision of Hon'ble Prime Minister of Atmanirbhar Bharat by enhancing domestic exploration and production and reduce dependence on crude oil imports.

Shares of OIL INDIA LTD. was last trading in BSE at Rs.111.95 as compared to the previous close of Rs. 110.4. The total number of shares traded during the day was 46594 in over 750 trades.

The stock hit an intraday high of Rs. 112.55 and intraday low of 109.4. The net turnover during the day was Rs. 5172490.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Adani Ports to acquire 31.5% in Gangavaram Port from Warburg Pincus for Rs1,954 Cr

SBI Card portfolio enabled on Jio Pay service

IRCTC to operate trips through Golden Chariot from March 14, 2021

HCL Technologies recognized as a leader in IDC MarketScape: Canadian Cloud Professional Services 2021 Vendor Assessment

SBI Launches 2nd Edition of YONO Super Saving Days

Bharat Biotech Announces Phase 3 Results of COVAXIN®: India's First COVID-19 Vaccine Demonstrates Interim Clinical Efficacy of 81%

SpiceJet and WheelTug conclude agreement for 400 slots of the state-of-the-art electric taxi system

HCG Cancer Hospital launches state- of-the-art Day Care Centre in Bengaluru

Exide Life Insurance launches new CSR film, #YouNeverRideAlone

U GRO Capital appoints Amit Gupta as Chief Treasury Officer

TCS Named a Leader in Life & Annuities Insurance Application and Digital Services by Everest Group

Kalpataru Power Transmission Limited receives new orders of Rs. 1554 crores

CRISIL revises outlook on long-ter debt instruments of Union Bank of India

RITES consortium bags Rs. 61 crores consultancy order

CAMS launches edge360 mobile application for easy access on the go

Advance Syntex Limited breaks into the world's largest retailer

HDFC reduces its Retail Prime Lending Rate

Ircon International Limited bags order of Rs. 187.80 crore

Ind-Ra revises outlook on PNB Housing Finance Ltd's NCDs

Mahindra Logistics with Bajaj Electricals announces Project 'SAMRIDDHI' for integrated logistics services

Ind-Ra reaffirms Base III compliant Tier II bonds rating of Central Bank of India

Mazagon Dock Shipbuilders Ltd to commission Submarine Karanj and commences Sea Trials of the first Ship of Project 15B

VST Tillers Tractors Ltd to invest in Zimeno Inc

Tata Power to provide Green Power in Jharkhand to Tata Steel Limited

Power Mech Projects Limited bags orders worth Rs. 734 crores

Ramco Systems Positioned as Leader in the 2020 SPARK Matrix for Multi-Country Payroll by Quadrant Knowledge Solutions

Optimize or Transform? TCS' New Digital Suite Empowers Germany's Mittelstand to accomplish both

RPP Infra Projects Wins 4 New Orders worth INR 1000.01 Crores

Generic Engineering Construction and Projects Ltd receives work order worth Rs 80.80 Crs

China Bank goes live with Intellect Wealth's Digital Trust Solution

Marico Ltd board declares 2nd interim dividend of Rs. 4.50

Vaibhav Global Ltd Board to consider sub-division/split of Equity Shares

Equity shares of BCL Industries Ltd to list in NSE on Mar 4, 2021

Wipro joins World Economic Forum initiative to advance racial justice and social equality

Accel Ltd acquires IT Services Business of Computer Factory India Private Limited

Megasoft Limited approves 2:3 rights issue at Rs. 10 per share

AGC Networks Limited allots 16,34,828 equity shares on conversion of warrants

Satin Creditcare Network Ltd. ranked 17 Among The Top 100 Best Annual Reports

ACCEL Limited acquires IT Services Business of Ensure Support Services India Ltd

ICRA confirms Credit Rating for Rs. 559.86 crore of Tejas Networks Limited

Jaiprakash Power Ventures Ltd announces disinvestment of 74% Share holding in Joint Venture Subsidiary - Jaypee Powergrid Ltd

HCL Software's cloud-native Digital Experience and Unica marketing platforms now on Google Cloud

Bank of Baroda closes QIP, fixes price at Rs. 81.70

NMDC achieves best ever Production and Sales in February

V-Mart Retail Limited opens new store in Bihar, closes two stores in Assam, UP

Thomas Cook India & SOTC tap high potential segment of women travellers

Engineers India Ltd bags project consultancy for IOCL's Panipat Refinery capacity expansion project

JK Tyre's Director - R&D, Dr. R Mukhopadhyay conferred with 'Distinguished Alumnus Award 2020' by Indian Institute of Technology

Exide Life Insurance is Great Place to Work-Certified™ in 2021

Gayatri Highways Limited completes acquisition of 51% in Balaji Highways Holding Pvt Ltd



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020