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CAPEX ON DEVELOPING OILFIELDS
Capex on developing oilfields to drop below $3.5 billion in 2030Capital expenditure on developing oil projects is estimated to drop below $3.5 billion in 2030 from around $4.3 billion in 2024. The estima...- Lockdown to delay several oil, gas projectsThe oil industry is under twin assault from the demand destruction caused by Covid-19 and a price war between key global producers that has...
- OVL to bid for Iran's South Azadegan oilfield, rework Farzad-B costOVL is one of the 34 companies Iran pre-qualified last year for development of South Azadegan field, which contains an estimated 33 billion...
- ONGC plans Rs 29,000 crore capex for next fiscalThe capex for the next fiscal year doesn’t include the $1.2bn, or Rs 8,000cr, ONGC has to pay for the purchase of GSPC’s stake in the KG Ba...
- ONGC Videsh Ltd, IOC consortium to buy Russian oil fields for $4.2 billionONGC Videsh Ltd (OVL) and a consortium led by Indian Oil Corp today signed agreements to buy stake in two Russian oilfields in Siberia for ...
- Private oil companies cut capital expenditure and cost on weak crude demand outlook for 2015-16Cairn India has slashed its capex by less than half while RIL will undertake austerity measures owing to falling oil prices.
- ONGC approves Cairn's raising Bhagyam field cost to $608 millionONGC approved its partner Cairn India's raising the cost of developing the second biggest oilfield in the prolific Rajasthan block by 30 pe...
- Cairn India to invest $3 billion to produce more oilCairn India is hoping to ramp up crude production in the Barmer blocks from the current 180,000 barrels per day to 210-215,000 bpd.
- RIL-BP wins approval for drilling well in KG-D6 blockTogether with less than 5 mmsmcd of output from MA field, gas production from KG-D6 is around 16.5 mmsmcd.
- Government approves RIL's revised KG-D6 block field development planA panel has approved Reliance Industries' Revised Field Development Plan for MA oilfield in the predominately gas-rich KG-D6 block.
- Reliance Industries Ltd plans new gas well; conversion of 2 sick oil wells into gasThe revised plan envisages drilling of a new gas well and conversion of two sick oil wells to gas wells in order to maximise the gas produc...
- RIL, BP cut investment in MA oilfield to $1.96 bnReliance Industries and its British partner BP plc have revised downwards the investment required for developing the MA oilfield in the pre...
- Varun Industries sells 51% in Madagascar oil block to China's Da Qing for Rs 750 croreVarun has formed a special purpose vehicle where it will own 49%, for developing the oil block and will also part of the proceeds from the ...
- CAG wants Cairn field cost increase to be audited as wellCAG said $ 201.54 mn expense incurred by Cairn on works like exploration in development area DA-1, should not be eligible for cost recovery.
- ONGC, Sistema may soon merge assets in RussiaLast December, energy majors of two countries had announced a mega-merger of three companies - Bashneft, RussNeft and Imperial Energy.
- Cost of developing Reliance's KG-D6 less than estimates of experts: Oil ministryThe government had appointed the US-based Mustang in October 2007 to validate RIL's cost estimates of $8.8 billion for producing natural ga...
- Reliance Industries's D1 and D3 gas fields costs rose $3 billion in 2 years: CAG draftComparison of 13 elements of the two plans for D1 and D3 fields in the CAG's draft report shows estimates increasing from $2.39 billion to ...
- Government to keep tabs on oilfields, says Jaipal ReddyGovt will reinforce supervision of oilfields following the national auditor's sharp criticism of the way it handled private oil firms, Jaip...
- Gas row: RIL wants ADAG's malicious ad campaign nipped in budRIL said the ad-campaign was an attempt to destroy value created in KG-D6 project. Gainers: BSE ( A, B ), NSE | Losers: BSE ( A, B ), NSE |...
- OVL earmarks Rs 9,000-cr capex for FY 10ONGC Videsh Ltd has earmarked capital expenditure of Rs 9,000 crore for the current fiscal during which it plans to drill exploratory wells...
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