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E&P investment update
Dec 05:   Among major E&P companies in India, the following developments are of importance:
ONGC
8Vashistha to commence production of 4.5mmscmd from 4QFY18 – will command HPHTpricing.
8The company has readied a capex of INR75.6b on GSPC’s DD block at INR19b in 1HFY18.
8The B127 development is on schedule.
8Tenders for Ratna/R-series have been invited; will be awarded soon.
8KG-DWN-98/2 – no issues in DOC; tenders would be awarded by April 2018. Expect minor delay --  gas from November 2019, oil from April 2020
RIL-BP
8Gas production at KG D6 has declined to 5.4 mmscmd.
8Award of long lead items for development of R-series is being carried out. Production of 12mmscmd is expected to commence in mid-2020.
8FDPs of MJ and satellite fields are expected to be filed in 2 HFY18.
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