October
7, 2003
PDVSA will help Oil India exploit
crude oil in Rajasthan
(Financialexpress.com) - Venezuelan National
oil company PDVSA will help Oil India Ltd (OIL)
exploit about $2 billion worth of heavy crude
oil in Baghewala oil field in Rajasthan.
The field is estimated to have over 35 million
tonne of bitumen and around 16 million tonne of
heavy crude oil. State-run exploration firm oil
signed an agreement for carrying out consultancy
service/technical collaboration, including detailed
geo-scientific and reservoir engineering studies
of Baghewala oil field.
The agreement was signed by Walter Márquez,
Ambassador of Venezuela in India, and Oil director
(exploration) SK Patra. "PDVSA will provide
us technology for bringing out the heavy crude
oil as well has making it useable as feedstock
in power plants," Mr. Patra said.
"Venezuela, which holds world's largest heavy
oil reserves, can help India exploit these,"
Mr. Márquez said. The agreement would lead
to Pilot plant experiment for exploitation of
heavy oil and bitument with subsequent development
plan and utilisation options.
Oil director (finance) Mr. Pasrija said 15-16
million tonne of crude oil can be recovered from
the Rajasthan field. India is 70 per cent import
dependant to meet its 117 million tonne of crude
oil requirement. PDVSA, in phase-I, would carry
out detailed reservoir and geoscientific studies
for selection of suitable recovery technique and
plant design.
In the second phase, PDVSA would be associated
during the implementation of pilot scale production,
which would be followed by preparation of development
plan and utilisation options, Mr. Márquez
said.
