Ministry of Mines to launch 7th Tranche of Auction of Critical and Strategic Minerals (See 'Corp Brief') Jal Mahotsav 2026 gives momentum to 'Jal Sanchay se Jan Bhagidari' (See 'Corp Brief') Ministry of Mines to organise National DMF Summit 2026 (See 'Corp Brief') Union Minister chairs 90th Meeting of Standing Committee of National Board for Wildlife (See 'Corp Brief') India achieves 1 billion Tonne Coal Production Milestone Again (See 'Corp Brief') PDUNASS conducts DoPT-Sponsored Training Programme (See 'Corp Brief') Govt introduces Credit Guarantee Scheme for Microfinance Institutions-2.0 (See 'Corp Brief') PMLA - High Court of Delhi lacked territorial jurisdiction to hear appeal filed against Appellant based in Kolkata; GST registration at Delhi, occasional hearings before Delhi Bench of NCLT do not establish that appellant ordinarily operates in Delhi: HC (See 'Legal Desk') Union Minister visits Agra; Reviews Carpet, Handicrafts, and Footwear and Sectors (See 'Corp Brief') Consumer Service Ratings of DISCOMS for FY 2024-25 released (See 'Corp Brief') India, Bhutan strengthen Postal Cooperation (See 'Corp Brief') Proposed National Youth Policy 2026 to align India's Youth Power with Viksit Bharat 2047 (See 'Corp Brief') Naik chairs GoM constituted for addressing issues related to electricity distribution (See 'Corp Brief') Chouhan does comprehensive review of agriculture sector (See 'Corp Brief') India, Malawi discuss Cooperation in Power and Energy Sector (See 'Corp Brief') MoRTH Secy urges Volunteers to focus on Prevention of Road Accidents and Save Lives (See 'Corp Brief') Capital Market - SEBI's regulations are framed to protect rights of stakeholders in securities market, and violation of its regulations being matter of public law, can't be condoned by private resolution of shareholders: SC (See 'Legal Desk') India achieves Historic Milestone of 200 Mineral Block Auctions in FY 2025-26 (See 'Corp Brief') Coal playing Important Role in Energy Security of Country (See 'Corp Brief') Misc - Bank cannot unilaterally act contrary to clear instructions of customer, and any concerns regarding regulatory compliance or underlying agreements do not justify remitting funds to unauthorized party: SC (See 'Legal Desk') WII conducts 10th Wildlife Conservation Course for Enthusiasts (See 'Corp Brief') Misc - Granting extension of time for repayment under OTS would amount to re-writing terms of contract between parties, which is not permissible for court exercising jurisdiction under Article 226: HC (See 'Legal Desk') Maharashtra signed Reform-Linked MoU under Jal Jeevan Mission 2.0 (See 'Corp Brief') A&C - Party that has availed substantive, adjudicatory remedy before statutory authority like HARERA is not barred from seeking interim, protective relief u/s 9 of Arbitration and Conciliation Act: HC (See 'Legal Desk') CCI okays acquisition in Baby Memorial Hospital by Bentley Asia (See 'Corp Brief') Bharat Electricity Summit 2026 - Uniting Policymakers and Industry Leaders at one platform (See 'Corp Brief') MSMEs positioned at Centre of Cluster Development to enhance Export Participation (See 'Corp Brief') Scindia says, Future of 6G must be built on common standards, innovation, and inclusive growth (See 'Corp Brief') National Exhibition-cum-Technical Event showcases S&T for Sustainable Livelihoods (See 'Corp Brief') IBC - Non-compliance with specific directive from Adjudicating Authority to file valid AFA within stipulated timeframe aggravates contravention: IBBI (See 'Legal Desk') NIPER Raebareli signs MoU with Roche Pharma India to strengthen Research (See 'Corp Brief') Sonowal interacts with Crew; calls Seafarers 'unsung heroes of Global Trade' (See 'Corp Brief') ITDC, Ministry of Tribal Affairs inaugurate Capacity Building Program for Tribal Homestay Owners (See 'Corp Brief') Food Processing Industry Must Align with Nutrition Security Goals (See 'Corp Brief') Trade Marks - Quasi-judicial authorities exercising statutory powers under the Trade Marks Act must pass a reasoned & speaking order after considering evidences & submissions placed; failure to do so amounts to abdication of these functions: HC (See 'Legal Desk') Raksha Mantri to inaugurate Conclave on 'Advanced Manufacturing Technologies' (See 'Corp Brief') Govt strengthens Institutional Credit Framework for Agriculture and Allied Sectors (See 'Corp Brief') Centre encouraging cash crops in place of tobacco: Chouhan (See 'Corp Brief') Over 1 Lakh Startups have at least One-Woman Director: Govt (See 'Corp Brief') PMLA - Allegations of mala fide cannot be accepted without specific evidence against ED officials; search authorization & consequent actions are distinct from scheduled offences u/s 3 of PMLA: HC (See 'Legal Desk') MoSPI has initiated measures to strengthen accountability in data collection (See 'Corp Brief') Govt expands Youth Skill Development through NSS, Skill India Mission and NEP Initiatives (See 'Corp Brief') Govt boosts Renewable Energy Awareness Nationwide (See 'Corp Brief') Misc - Doctrine of lis pendens u/s 52 of TOPA is not applicable to transfer of property that occurs before institution of suit concerning that property, especially when transferor is not party to subsequent suit: HC (See 'Legal Desk') CCI organises 11th Edition of National Conference on Economics of Competition Law (See 'Corp Brief') India submits Report on Implementation of Nagoya Protocol for Biodiversity (See 'Corp Brief') MSME Champion Scheme progressing well towards achieving its objectives (See 'Corp Brief') A&C - Law provides award creditor with additional option to file for execution directly in court where assets are located, but this does not extinguish jurisdiction of Seat Court: HC (See 'Legal Desk') IICA convenes 5th Inter-Ministerial Consultation on Responsible Business Conduct and ESG (See 'Corp Brief') BCCL Organizes Interaction with NRS Linkage and CIL SWMA e-Auction Consumers (See 'Corp Brief') Madnaviya & Kumaraswamy lay foundation of indoor sports complex in Karnataka (See 'Corp Brief') A&C - Juridical seat of arbitration is determinative factor for conferring exclusive supervisory jurisdiction on court: HC (See 'Legal Desk') India's progress in reducing Tuberculosis Incidence has Outpaced Global Average: Nadda (See 'Corp Brief') Rs 100 crore sanctioned for Integrated Aqua Park Project in Anantnag (See 'Corp Brief') Reddy inaugurates Multiple Projects in WCL (See 'Corp Brief') PMLA - If mortgaged properties are to be auctioned by bank or settled with borrower which may result in concealment, it would be only of those properties which was considered to be assets disproportionate to known source: SAFEMA (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (See CORP EINSICHT)

Print

ONGC Videsh announces new discovery in Colombia

Published: Jun 24, 2022

By TIOLCorplaws News Service

NEW DELHI, JUNE 24, 2022: ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of India, has made an oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia. Well, Urraca-1X was spudded on 20th April 2022 and drilled to target depth (TD) of 10956 ft., encountering 17 ft thick oil-bearing sands at a depth from 10201ft -10218 ft. During initial testing with Electrical Submersible Pump (ESP), fluid flowed @ approx. 600 bbl./day with around 40-50% W/C and oil of 16 o API. Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block.

ONGC Videsh has earlier discovered commercial oil in the Lower Sand pay in Mariposa and Indico fields in the block in 2017 and 2018 respectively, which are currently commercially producing @ 20,000 bbl oil per day.

Block CPO-5 was awarded to ONGC Videsh Limited in the 2008 bid round of Colombia. ONGC Videsh holds 70% participating interest (PI) in the block along with operatorship, remaining 30% is held by partner Geopark. ONGC Videsh has a significant presence in oil & gas sector in Colombia, with three other exploratory blocks in the country and joint ownership of the oil producing company Mansarovar Energy Colombia Ltd (MECL).  Oil discovery in a new play in the block with the well Urraca-1X, reiterates the technical and operational prowess of ONGC Videsh and adds one more feather in its cap towards the extensive Exploration and Drilling campaign in Colombia.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.