Project Profile
Value: Undisclosed
Location: Near to the Lakshmi, Gauri and Hazira Fields, Cambay Basin, Gujarat, India
Reserves: Estimated Contingent Resource of ~250MMscf
Production: 120 boepd from Bhandut-3 well
Area: 6km2
Start-up Year: -
The Bhandut field is located near to the Lakshmi, Gauri and Hazira Fields in India. The field has estimated Contingent Resource is about 100MMscf. A recent Isochronal production test of Bhandut-3 flowed at a maximum rate of 6.5MMscfd (184,370m3/d) through a 10mm choke with a flowing tubing head pressure of 1,190 psia. The isochronal test was conducted to obtain more precise reservoir performance data as part of attempting to realise value from Bhandut and the test confirmed the reservoir sand has a permeability of 124mD, making it a conventional reservoir. The field is located in the Cambay Basin, Gujarat, India and covers an area of 6km2.
Oilex is the operator of the Bhandut JV and its attributable 40% interest in the estimated Contingent Resource is approximately 100MMscf (250MMscf in total from the whole field). This volume, together with appropriate low and high estimates, can only be confirmed through further production, which requires appropriate gas sales arrangements to be entered into by the Bhandut JV. The field is located near to the Lakshmi, Gauri and Hazira Fields that are producing gas and oil from reservoir intervals similar to those intersected in the Bhandut wells. The field was discovered and developed initially by ONGC of India. Hydrocarbons were found in Oligocene and Eocene sandstones and continued to be produced on an intermittent basis after the fields were acquired by the GSPC and Niko Joint Venture in 1995. The Bhandut Field has produced about 172,000bbls of oil since 1988, including 19,385bbls since acquisition in 2007. Individual wells have produced at rates of 200-400 barrels of oil per day in the past.
The first 3D seismic survey over Bhandut field was acquired in February 2007. The main reservoir units in the shallower section are discontinuous sandstones and at deeper stratigraphic levels, exploration targets that are likely to be gas-bearing will be considered for drilling in the future. In early 2013 an isochronal gas production test was undertaken at Bhandut-3 as part of the approved work programme and budget. Bhandut-3 flowed at a maximum rate of 6.5MMscfd (184,370m3/d) through a 10mm choke with a flowing tubing head pressure of 1,190 psia. Bhandut-3 is a lean gas composition with 98.9% hydrocarbons, of which 94% is methane, and 1.1% is inert gases (Nitrogen and Carbon Dioxide). As such minimal treatment is required to be suitable for sale. Minimal capex, if any, is expected to be required by Oilex under such a production scenario. Subsequent to the Government of India’s recent announcement about increasing the base domestic gas price to stimulate additional investment in indigenous gas supplies, a number of interested parties have approached the Bhandut Joint Venture about purchasing gas from Bhandut-3. The isochronal test results have been useful in supporting ongoing discussions related to the sale of gas.
Operators:
Oilex Ltd: Operator with 40% interest
Gujerat State Petroleum Corporation Limited (GSPC): 60% interest