India Onshore Oil

Tarapur Blocks, Cambay Basin

GeoGlobal is partnered in four significant Blocks in the Cambay Basin in Northwest India where all operations are within driving distance of Ahmadabad. The region has road and rail access with all necessary infrastructures to support oil and gas project operations. The Company and its partners have successfully drilled 73 wells for in its Cambay Basin Blocks for a total 26 Discoveries the majority of which are still to be developed to production.

Tarapur 1

GeoGlobal has a 14% Participating Interest in this smaller Tarapur Block of 2,397 acres which currently has 1P and 2P Net Reserves of 6.08 MMBOE (million barrels of oil equivalent), and it is a portion of an estimated gross OOIP (original oil in place) of 50 MMbbl. This Tarapur Block which is now in production from six discovery wells is forecast to generate over US$230 million in revenue over just the next eight years following start up production of the remaining eight (Tarapur #6 and A1 to A7) appraisal wells (based on oil at US$90 per barrel).

Tarapur 2

GeoGlobal has a 20% Participating Interest in the much larger highly prospective Tarapur RF (Ring Fence) Block of 297,515 acres. A recent engineering report estimated a target resource of between 1,000 MMboe and 4,000 MMboe prospective resource for the Tarapur RF Block.

Facilities and Drilling on Tarapur Properties in Cambay Basin

Sanand/Miroli Block

GeoGlobal entered into this agreement in February 2004 under NELP-IV, which grants exploration rights in an area onshore in the Cambay Basin. GSPC is the Operator of this block and GeoGlobal has a 10% participating interest under this agreement. Of the discovery wells, three are production ready with some oil production commenced on the Miroli Block this year.

Ankleshwar Block

GeoGlobal entered into this agreement in September 2005 under NELP-V, which grants exploration rights in an area onshore in the Cambay Basin. GSPC is the Operator of this block and GeoGlobal has a 10% participating interest under this agreement. Of three discovery wells drilled to date, Ank-21 commenced oil and gas production in July, 2014.

Map of Foreign Oil Block details of Cambay Basin north of Mumbai and adjacent Ahmadabad.

 

E&P
Block details in Cambay Basin north of Mumbai and adjacent Ahmadabad.

Current production of existing wells from the smaller Tarapur Block is 1,500 BoE/day, and horizontal drilling enhancement would further increase production by potentially ~500%.

India has become increasingly invested in the oil and gas industry since the emergence of its free market economy in the 1990s and subsequent discovery of major oil and gas properties. Today, the Indian government, particularly the Ministry of Petroleum and Natural Gas, has administrative control of the country’s largest oil and gas exploration, production, and refining companies, which collectively produce over half of India’s crude oil and natural gas. Additionally, India is a net importer of oil, due to increasing energy demands from population and economic growth. Established within such a ready market place, the GeoGlobal oil and gas Cambay Basin Projects are well positioned for consistent growth in a growing economy.

MapDetails within Tarapur Block with drill locations as they correspond to subterranean oil trap.