Guwahati, Jun 4: Oil India Limited has confirmed the presence of hydrocarbons on the north bank of the Brahmaputra River, with ongoing studies to evaluate its commercial potential.

OIL's CMD, Ranjit Rath, emphasized that while it is premature to label this as a discovery, the exploration strategy has indeed revealed hydrocarbons in a location known as Kobochapori. He noted that a formal discovery requires establishing commercial viability.

To understand the structure of the deposits and assess production possibilities, seismic studies are currently underway.

Rath mentioned plans to drill additional wells to better gauge the potential of the area. Seismic data from the Biswanath Chariali-Mangaldai region has been acquired and is being reprocessed. The prospects of this geological belt are under thorough investigation.

He highlighted that the Assam Shelf Basin is classified as a Category I basin, regarded as one of the most promising areas, and OIL sees significant opportunities here.

The company is also reprocessing existing data from upper Assam, a process that will take considerable time, and has engaged an international consultant for new studies.

Over the past two years, more than 40 geological and geophysical studies have been conducted, identifying over 90 drillable locations in upper Assam. OIL aims to discover even more opportunities, with additional seismic studies planned if necessary.

Rath clarified that OIL is not limiting drilling in upper Assam to specific depths. The company is focused on maximizing oil production from older, mature fields. Previously, drilling reached depths of 3,500 meters, while in the north bank, they have drilled up to 4,500 meters. The Sadiya well attempted a depth of 6,500 meters, marking it as one of the deepest wells in the region.

Despite reaching 5,900 meters, the team recognized the need for better preparation and is revising their drilling strategy. They are exploring both new locations and deeper drilling options.

In the previous year, approximately 70 wells were drilled in Assam.

Currently, India processes around 258 million metric tonnes of crude oil, with imports constituting 88 percent. The country aims to increase this to over 400 million metric tonnes by 2040.

OIL reported its highest-ever combined oil and gas production of 6.71 MMTOE for the financial year 2024-25 (FY25). Crude oil production rose by 2.95 percent to 3.458 MMT, while natural gas production increased by 2.20 percent to 3.252 BCM, marking the highest output since the company's inception.

The company also recorded a profit after tax increase of 10.13 percent, totaling Rs 6,114.19 crore for the year ending March 31, 2025.

By

Staff Reporter