OIL seeks partners for ramping up production

08 July 2019

Oil India Ltd (OIL), the state-owned petroleum explorer, has floated a tender seeking technology partners for ramping up production from two of its old and ageing fields in Assam and Rajasthan.

Ramping up production

The partner is expected to enhance output from the marginal fields including Digboi in Assam and Baggitibba in Rajasthan with total in-place hydrocarbon volume of around 49 million tonne of oil equivalent.

“The offer would provide an opportunity to oil & gas service providers and operators to partner with OIL on a revenue sharing model. However, the petroleum mining lease and ownership of the fields will remain with OIL,” the company said in a statement.

It added that the new technology partner will infuse a new & appropriate fit for technology to increase the production and a notice inviting the offer is available at the company’s e-tender portal. The offer is valid till 20 December 2019.

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