Reporters from the two most important national and regional media i.e La Republica and El tiempo from Colombia visited India to have a look at ONGC’s production fields/ installations and smart fields during October 2015, to have a first-hand experience of ONGC’s strength and report the same back to the Colombian media.
The media groups were represented by Mr Edmer Tovar Martínez, Editor and Host-El Tiempo and Ms Lilian Mariño Espinosa, Mines and Energy Journalist, La Republica.
Mansarovar Energy Colombia Limited (MECL) is a 50:50 Joint Venture between ONGC Amazon Alaknanda Limited established by ONGC Videsh Ltd. from India, and Sinopec International Petroleum E&P Hong Kong Overseas Limited from China. It was incorporated in Bermuda on 2ndAugust 2006.
It is important for MECL to highlight its operational excellence and expertise in heavy oil business and demonstrate the strength of its shareholders i.e ONGC & SIPC, both technically and financially, for strategic business growth.
MECL assets constitute a 100% interest in the light oil Velasquez free mineral property and a 50% interest in the Nare association contract where the Colombian national oil company, Ecopetrol S.A holds the remaining 50%. MECL also owns 100% of the Velasquez-Galan pipeline, which runs 189 km from the Velasquez property to Ecopetrol’s Barrancabermeja refinery.
MECL’s Nare association Contract is expiring on 5th November 2021. Share of Nare Contract field’s in production and remaining reserves of the consortium is around 90% and 80% respectively. Extension of Nare association Contract beyond 2021 is a big challenge and of critical importance to MECL. Efforts are being made to extend the contract beyond 2021.
In their visit from 26th October to 28th October, the media representatives were taken to ONGC Offshore installation in Mumbai High, Onshore installation of Mehsana where heavy crude is produced through in-situ combustion and Institute of Reservoir Studies, Ahmedabad. They were shown ONGC’s expertise and capabilities in producing fields in hostile offshore environment and also producing heavy viscous crude by application of thermal EOR. They were also exhibited ONGC’s effort and achievement in R&D on reservoir studies at IRS, Ahmedabad wherein continuous effort is made to maximize hydrocarbon recovery at minimum cost, provide holistic reservoir description through integration of all data, maximize the value of proven reserves with conventional and improved recovery techniques and enhance the skills and knowledge for better reservoir management.
On their final day of visit, media representatives interviewed Mr Sudhir Sharma-Director (Exploration) of ONGC Videsh wherein they showed keen interest about ONGC Videsh strategy in general and specific to Colombia, future investment of ONGC Videsh in Colombia, impact of low oil prices in exploration plans of the company etc.