Gujarat government-owned Gujarat State Petroleum Corporation (GSPC) plans to bring in US-based Schlumberger, a leading oil-field service provider, as a partner for its Tarapur block in the proven petroliferous Cambay basin. 

With Schlumberger’s will help GSPC in planning to double the production from the oil field which is producing around 300 barrels of oil per day from Tarapur-1

GSPC, which one the block in the first round of NELP in 2000.  The GSPC now holds 56 per cent participating interest in the block as an operator. ONGC holds 30 per cent and the rest is with Canadian GeoGlobal Resources.

The company has got the necessary approvals from the Directorate General of Hydrocarbons (DGH), sources said. The exploratory block is spread over 1,618 sq km, and the investment in drilling till date has been about US $100 million (Rs 450 crore), according to government sources. “Schlumberger will work as a part of GSPC and will share risks and rewards for the Tarapur block. The share in the profits could be in the range of 10-20 per cent, the final decision for which is pending with GSPC,” said industry sources familiar with the development.

A GSPC spokesperson declined to comment.  The block holds the equivalent of about 700 million barrels (a barrel of crude oil is 157.5 litres), of which 20-25 per cent is believed to be recoverable. “With Schlumberger as partner, the recovery can be maximized up to even 50-60 per cent,” said sources.                                                                                                                                                  Business Standard

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