OIL begins seismic campaign in Tripura

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New Delhi, Jan 27 (PTI) Oil India Ltd, the nation's second-largest state oil producer, on Wednesday said it has started its first-ever seismic survey in Tripura, kicking off exploration and production operation in the north-eastern state.

OIL commenced a seismic survey in block AA-ONHP-2018/5, the company said in a statement.

The first step in exploring for oil and natural gas resources is often conducted through seismic surveys, which are like ultrasounds of the earth that help give a first idea of what is present underneath the earth's surface.

OIL had won the AA-ONHP-2018/5 block under the third round of bidding of Open Acreage Licensing Policy (OALP) in 2019.

'Geologically, the block lies in the Tripura-Cachar fold belt,' the statement said.

The block, located in the Santirbazar subdivision of South Tripura district in the southern part of the state, covers an area of 207.74 sq km.

The company is committed to acquiring 200 line-km of 2D seismic and 185 sq km of 3D seismic data and drill six exploratory wells.

'The RSC (revenue sharing contract) between the Government of India and OIL for the bloc was signed on July 16, 2019,' it said adding that the state government awarded the Petroleum Exploration License (PEL) on October 16, 2019.

Apart from consolidating its position in the north-east region and Rajasthan, OIL has made efforts to carry out exploration in not so prolific sedimentary basins in line with the government's thrust for exploration.

OIL also said it is commencing execution of its field development plans in the neighbouring Tulamara block, based on the success of 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,' the statement said without giving details. PTI ANZ ANZ ANS ANS