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Undiscovered facts about Discovered Small Fields Round-II: Operator puts off RFQs while he learns more about the business
Apr 25: Here is an operator who had little idea of the oil & gas sector before he stepped in and became an operator. He is from an unrelated field. He has a big investment ahead of him. As he begins to learn more about the business, he has deferred his plans for hiring a rig and and a pipeline contractor by a couple of months.
Project Name:
Oil Field Development
8Project Cost: Rs 200 crore
8Project Description: The operator is planning the development of the an oilfield. The block was awarded to the company under the Discovered Small Fields Round 2016. The TOR for the project has now been granted. However, the application for the forest clearance has not been submitted till now. The project involves development drilling of oil wells and laying of an infield pipeline to connect with the nearest OIL's production facility (GGS). Production from the block is expected to start by the end of 2021.
8Project Event: RFQs for hiring Drilling Rig and contractor for pipeline installation are expected by August 2018 instead of May 2018.
8Expenditure Approval: Q4/2017
8RFQ Date: Aug/2018
8Release Date: Oct/2018
8Start Date: Q1/2019
8Completion Date: Q1/2021
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