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New E&P operators: Going through a discovery process
Sep 11: New E&P operators are learning about the business in their own unique ways
Here is an operator who thought he would buy a Chinese rig and besides operating it on his field will loan it out if needed but he has changed his mind now
On funding, he thinks he can come out with an IPO to fuel his plans

8Project Name: Oil Field Development
8Project Cost: Rs 200 crore
8Project Description: The owner will release a set of RFQs for a drilling rig and a workover rig soon. Earlier reports of the company purchasing a Chinese rig for drilling operations have not been confirmed and are doubtful. Currently, the company is undergoing necessary environment clearance processes and plans to start drilling by the end of 2019. Moreover, the field development plan for the block has already been approved by the Directorate General of Hydrocarbons. The block  was awarded to the company under the Discovered Small Fields Round 2016. The production from the block is expected to start by Q2 2020. The company, with a 100% PI in the block, plans to raise capital through an IPO in 2019. The project also involves installation of an infield pipeline to connect with the nearest production facility. Further RFQs are expected shortly.
8Project Event: RFQs for rigs services are expected by Q1 2019
RFQs for hiring EPC contractor for pipeline installation is expected by Q2 2019
8Expenditure Approval: Q4/2017
8RFQ Date: Q1/2019
8Release Date: Q1/2019
8Start Date: Q4/2019
8Completion Date: Jun/2022
Click here for more details for key contacts and project parameters


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