Oil India News

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

Esgian's last roundup of the year for the Week 52 puts spotlight on new developments for Dolphin Drilling semisub, Seadrill drillships, as well as Shell’s plans for Australia and ONGC’s new tender for jackups in India.ContractsDolphin Drilling has signed a Letter of Intent (LOI) with an undisclosed operator for the 1,500-ft semisubmersible Borgland Dolphin to undertake a 500-day drilling campaign in the UK. The drilling campaign is planned to begin directly after the firm part of the contract period with EnQuest, which was announced in late November 2023.

India's Oil and Natural Gas Corp (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions, sources say.Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers…

India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast of India and investment in retail sector in petroleum.Saudi Arabia is its second-biggest supplier of crude oil after Iraq. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil.India imports around 18 per cent of its crude oil from the Kingdom, making it the second-largest source of crude oil for the country, Indian Prime Minister Narendra Modi said.PM Modi…

Japan said on Thursday it had not yet been granted a waiver from a U.S. plan to reimpose sanctions aimed at cutting Iran out of international markets, while the top two customers for Iranian oil, China and India, were awaiting word on possible exemptions.The United States has said it is considering waivers on sanctions for countries that are reducing their imports of Iranian oil. The renewed U.S. sanctions on Iran are set to come into effect on Nov. 4."Japan-U.S. talks have been conducted four times so far on U.S.

Following Indianan Prime Minister Narendra Modi’s June 2017 visit to the U.S., where President Donald Trump and PM Modi agreed to deepen the energy engagement between the two countries, India oil companies have started the process of procuring crude oil from the U.S. Now six weeks after the visit, the first orders for $1 billion of crude are being placed. Two Indian oil giants, Indian Oil Corporation and Bharat Petroleum, have already taken delivery of the first 2 million barrels that have shipped from ports in Texas and Louisiana.

India plans to sign energy deals with Russian oil major Rosneft next week to buy stakes in Siberian fields, two sources privy to the deal said, as New Delhi accelerates a push to secure overseas energy assets. India, the world's third biggest oil importer, has to ship in three quarters of its oil needs and a substantial fall in oil prices has added an extra incentive to seal purchases of assets that are now relatively cheap to limit its reliance on imports. Rosneft's Chief Executive Igor Sechin will visit Delhi on March 15-16 to stitch together the deals, the sources said. Rosneft, the world's biggest listed oil company by output, also…

India will use an upcoming visit by Barack Obama to press the United States to remove Indian oil companies from a list naming firms doing business in Iran, and to seek priority access to U.S. LNG exports, sources in the Oil Ministry said. The U.S. president will arrive in New Delhi on Jan. 25 and hold discussions with Prime Minister Narendra Modi, who visited Washington in September. An official agenda has not been released. The U.S. Government Accountability Office (GAO) listed three Indian companies as having commercial activity in Iran's energy sector in a report this week, potentially making it difficult for them to do business with other countries, mainly the United States.

Atle Jacobsen, the CEO of Dolphin Geophysical, is, in many ways, a bit of a paradox. An experienced, no-nonsense, veteran of the marine seismic surveying industry, he is also disarmingly easy to “talk shop” with, engaging and has an obvious thirst for new ideas and technology. But the core contradiction lies in his approach to business. This is a man that shows no qualms about ripping up the rulebooks and making brave decisions, but at the same time there is a steadfast caution that underpins the very essence of the Dolphin business model.

With the boom in the oil and gas exploration sector, fueled by the recent awarding of new blocks under NELP VI, Indian shipping companies are tanking up to sharpen their focus on the offshore segment. Only last month, Oil and Natural Gas Corporation (ONGC) came out with a tender for chartering of around 26 offshore supply vessels, with mobilization requirement up to the third week of November. Shipping companies such as Great Eastern Shipping, Varun Shipping and Mercator Lines have lined up significant investments in this sector in the current fiscal. In fact, the boom in the offshore sector is one of the reasons that prompted GE Shipping to de-merge its offshore division into a separate company, Great Offshore Ltd, to get higher valuations from this business.

U.S.-based Hardy Exploration and Production (India) Inc. has revived a declining oil field off India's southern coast and increased its output by over 2,000 bpd. Hardy Exploration's chief executive, Sastry Karra, said his company drilled India's deepest horizontal well of about 1,200 m to revive the PY-3 field and step up its output to 5,600 bpd from 3,600 bpd. "This lateral well flowing a light crude of 49 API and another one we are starting to drill today should extend the life of the PY-3 field by several years at least," Karra said. In April, Karra told Reuters the firm was likely to spend about $16 million for drilling two new lateral wells and using water injection technology to extend the life of the declining field -- then producing 4,000 bpd -- by another five years.