Oil India kickstarts first ever seismic survey in Tripura
Oil India Limited has kickstarted its exploration and production operations by launching its first-ever seismic survey in the North-Eastern state of Tripura.
It has commenced seismic survey operations in OALP-III block AA-ONHP-2018/5 on January 17, 2021. This block is located in Santirbazar subdivision of South Tripura district in the southern part of the state. It covers an area of 207.74 sq. km while the committed work programme is to acquire 200 GLKM of 2D seismic & 185 sq. km of 3D seismic data and drill six exploratory wells.
Geologically, the block lies in Tripura-Cachar fold belt and is a border state of the country, surrounded on all sides by the deltaic basin of Bangladesh except for a small part in north-east, which adjoins Cachar district of Assam and the state of Mizoram.
The revenue-sharing contract (RSC) between the Government of India and Oil India for the Block was signed on July 16, 2019. Subsequently, the State Government of Tripura had awarded petroleum exploration licence (PEL) on October 16, 2019.
Oil India will also be commencing the execution of its field development plans in the neighbouring DSF block of Tulamara (West Bengal) and it intends to carry further exploration activities in the state of Tripura to access more hydrocarbon resources in this gas prolific area.
On Thursday at 2.10 pm, the stock of Oil India was trading 1.4 per cent lower at Rs 110.40 from its previous close of Rs 111.95.