2006 - Oil India Limited
2006 - Oil India Limited
2006 - Oil India Limited
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OIL BAGS 2nd BLOCK IN LIBYA<br />
<strong>Oil</strong> <strong>India</strong> Limted in consortium with <strong>India</strong>n <strong>Oil</strong> Corporation<br />
Ltd. (IOC) has bagged Block No. 102(IV) under the last<br />
Libyan EPSA IV round 2. The participating interest of OIL is<br />
50%, and OIL is the operator of the block. The Block having<br />
an area of 2710 Sq Km is located in the Sirte Basin, the most<br />
oil prolific sedimentary basin of Libya. Incidentally, the<br />
block shares some common boundary with Block 86, which<br />
the consortium had won earlier.<br />
The consortium won the block under stiff<br />
competition from various other international oil companies.<br />
The consortium paid a signature bonus of US $ 3,001,001<br />
against the minimum fixed bonus of US $ 3,000,000.<br />
Based on energy consumption of 2004, the projected growth rate by IEA 2005 shows that by<br />
2025 <strong>India</strong> will be the fourth largest energy consumer.<br />
Table : Energy Consumption of top 8 energy consuming regions & countries (MMTOE) - 2025<br />
Million tones oil equivalent <strong>Oil</strong> Natural Coal Nuclear Hydro & Total Per Cent<br />
Gas Energy Other share in<br />
Renewable<br />
World<br />
USA 1,255.5 763.3 771.4 200.1 81.8 3,072.1 19.9<br />
Western Europe 708.6 557.8 178.9 183.2 136.1 1,764.7 11.4<br />
China 777.7 169.9 2,011.0 80.5 149.7 3,189.0 20.7<br />
Russian Federation 168.5 494.6 130.5 50.1 46.3 890.1 5.8<br />
Japan 241.5 88.7 120.8 81.5 33.6 566.1 3.7<br />
<strong>India</strong> 245.7 82.1 344.0 23.7 41.6 737.1 4.8<br />
Canada 122.7 122.0 40.8 31.1 113.4 430.1 2.8<br />
South Korea 137.5 60.9 89.2 48.7 3.3 339.6 2.2<br />
Total of Above 3,657.8 2,339.5 3,686.7 698.9 605.9 10,988.7 71.2<br />
TOTAL WORLD 5,593.3 3,901.9 4,210.8 785.5 941.9 15,433.5<br />
Percent share in World 65.4 60.0 87.6 89.0 64.3 71.2<br />
Energy Mix 36.2 25.3 27.3 5.1 6.1<br />
Source : IEA 2005<br />
Published by Corporate Communication Department<br />
OIL INDIA LIMITED<br />
5, Sikandra Road, New Delhi - 110 001.<br />
Tel. : 23074263-74, Fax : 23074275<br />
E-mail : ajaini@oil.delhi.nic.in; Website : www.oilindia.nic.in<br />
Designed & Printed for <strong>Oil</strong> <strong>India</strong> Limted by<br />
United Advertising & Marketing Services<br />
80/42, Malviya Nagar, New Delhi - 110 017<br />
Tel. : 26683792, 26687191<br />
E-mail : corp@unitedadvertising.in
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