REGULATORY & JUDICIAL DEVELOPMENT – INDIA
Gujarat Gas Ltd v Adani Gas Ltd
March 13, 2018
A complaint was filed against the Respondent under Section 21(3) read with Sections 12(1)(b), 25, 13(1)(g), 28, and 48 of the Petroleum and Natural Gas Regulatory Board Act, 2006 with respect to the unauthorized development of a city gas distribution network and other ancillary violations.
It was alleged that the Respondent had laid and continued to expand and operate an unauthorized city gas distribution network within the geographical area of Ahmedabad district.
The Board requested additional submissions from the Complainant regarding the maintainability of the complaint.
MARKET DEVELOPMENT (GLOBAL)
China National Offshore Oil Company Announces New Gas Discovery in Bohai
December 8, 2017
CNOOC Limited announced a mid-sized natural gas field discovery known as Bozhong 19-6 in Bohai. The discovery is located in the southwest sag of Bozhong South Central Bohai with an average water depth of approximately 22 meters.
The evaluation well was tested to produce around 1,000 barrels of oil and 6.4 million cubic feet of natural gas per day. This discovery is expected to strengthen clean energy supply to the Beijing-Tianjin-Hebei region.
TGS and Schlumberger Announce New 2D Multiclient Project in Egyptian Red Sea
December 20, 2017
TGS and Schlumberger announced a new seismic acquisition project covering approximately 10,000 km of 2D long-offset broadband multiclient seismic data in the Egyptian Red Sea.
The project incorporates advanced imaging techniques and integrates legacy seismic and non-seismic data under an exclusive multiclient rights agreement with GANOPE.
Oil India Limited Makes New Hydrocarbon Discoveries in Assam
December 28, 2017
Oil India Limited announced two hydrocarbon discoveries in the Dumduma Petroleum Mining Lease through exploratory wells South Chandmari-5 and Hukanguri-2 located in the Upper Assam Basin.
Reliance Industries Commissions World’s Largest Refinery Off-Gas Cracker at Jamnagar
January 2, 2018
Reliance Industries successfully commissioned the world’s first and largest Refinery Off-Gas Cracker (ROGC) complex with a capacity of 1.5 MMTPA.
The facility utilizes off-gases generated from Reliance’s Jamnagar refineries, creating a sustainable cost advantage and making Jamnagar home to the world’s largest operating refinery off-gas cracker.
ONGC Acquires 51.11% Stake in HPCL
January 20, 2018
ONGC entered into a share purchase agreement with the President of India to acquire 51.11% equity stake in Hindustan Petroleum Corporation Limited (HPCL).
This acquisition was aimed at creating India’s first vertically integrated energy company with operations across the entire hydrocarbon value chain.
Chevron Announces Significant Oil Discovery at Ballymore Prospect
January 30, 2018
Chevron Corporation announced a significant oil discovery at the Ballymore prospect in the deepwater Gulf of Mexico.
Chevron U.S.A. Inc. operates the project with a 60% interest, while TOTAL E&P USA Inc. holds the remaining 40%.
IndianOil Commissions Octamax Unit at Mathura Refinery
January 31, 2018
Indian Oil Corporation commissioned its Octamax Unit using technology developed by its R&D Centre.
The technology converts C-4 streams into high-octane gasoline blending components and supports compliance with stringent fuel quality standards.
ONGC-Led Consortium Acquires Stake in Lower Zakum Concession
February 12, 2018
An Indian consortium led by ONGC Videsh Limited acquired a 10% participating interest in the ADNOC-owned Lower Zakum Concession offshore Abu Dhabi for a period of 40 years.
This marked the first time Indian oil and gas companies secured participation in Abu Dhabi’s hydrocarbon resources.
Oil India Receives Approval for Mozambique Development Plan
March 5, 2018
Oil India Limited announced approval of the development plan for the Golfinho-Atum field in Mozambique’s Rovuma Area 1 Block.
The block is one of the largest offshore gas discoveries in East Africa with estimated recoverable resources of approximately 75 trillion cubic feet.
Oil India Receives First European Patent
March 8, 2018
Oil India Limited secured its first patent from the European Patent Office for a method designed to prevent wax deposition in oil wells equipped with packers.
CNOOC Oilfield in South China Sea Commences Production
March 21, 2018
CNOOC Limited announced the commencement of production at the Weizhou 6-13 oilfield located in Beibu Gulf, South China Sea.
The company holds 100% ownership and operational control of the oilfield.
WHAT’S NEW
IndianOil Flags Off India’s First Hydrogen Fuel Cell Bus
March 12, 2018
Indian Oil Corporation Limited and Tata Motors successfully launched demonstration trials of India’s first Hydrogen Fuel Cell Bus.
The bus will be fueled through India’s first hydrogen dispensing facility at the IndianOil R&D Centre and will undergo extensive testing to evaluate the performance and durability of hydrogen fuel cell technology.
NEXT ISSUE
August 2018
IN-HOUSE CONTRIBUTORS
Alak Desai, Oil & Gas Team
SOURCES
- Norwegian Petroleum Directorate
- U.S. Energy Information Administration
- The International Energy Agency
- Organisation of the Petroleum Exporting Countries
- The Oil and Gas Journal
- Official websites of various Oil & Gas companies
- Petroleum and Natural Gas Regulatory Board
- Directorate General of Hydrocarbon
- Ministry of Petroleum and Natural Gas
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Doc ID: 16O&G18
