Lok Sabha Question No. 372 (STARRED), answered on 2019-01-07
Subject: Acquisitions by Oil Companies
Ministry: PETROLEUM AND NATURAL GAS
Asked by: ARVIND GANPAT SAWANT, BHAVANA GAWALI (PATIL)

## LOK SABHA STARRED QUESTION NO. 372 TO BE ANSWERED ON 7 TH  JANUARY, 2019

## Acquisitions by Oil Companies

- *372.   SHRI ARVIND SAWANT: SHRIMATI BHAVANA PUNDALIKRAO GAWALI PATIL:

## पैट्रोलियम और प्राक ृ लिक गैस मंत्री

Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

- (a) the details of acquisitions made by the public sector oil companies during the last  three  years  and  their  acquisition  cost  along  with  the  number  of fields where production has been started;
- (b) whether the Government has formulated any guidelines for acquisition in foreign countries by such companies and if so, the details thereof; and
- (c) the details of emergency clauses in such agreements regarding acquisitions made between the public sector oil companies and the host countries?

## ANSWER

पैट्रोलियम और प्राक ृ लिक गैस मंत्री ( श्री धमेन्द्र प्रधान )

THE MINISTER OF PETROLEUM AND NATURAL GAS (SHRI DHARMENDRA PRADHAN)

- (a) to (c): A statement is laid on the table of the House.

STATEMENT  REFFERED  TO  IN  REPLY  TO  PARTS  (a)  TO  (c)  OF LOK  SABHA  STARRED  QUESTION  NO.  372  BY  SHRI  ARVIND SAWANT  AND  SHRIMATI  BHAVANA  PUNDALIKRAO  GAWALI PATIL  TO  BE  ANSWERED  ON  07 TH   JANUARY,  2019  REGARDING ACQUISITIONS BY OIL COMPANIES

- (a) Indian  Public  Sector  Oil  and  Gas  companies,  till  December  2018 , have acquired stake in 28 countries, including Australia, Azerbaijan, Bangladesh, Brazil, Canada, Colombia, East Timor, Gabon, Indonesia, Iran, Iraq, Israel, Libya,  Mozambique,  Myanmar,  Namibia,  New  Zealand,  Nigeria,  Oman, Russia,  South  Sudan,  Sudan,  Syria,  USA,  UAE,  Venezuela,  Vietnam, Yemen. In the last three years, Indian oil and gas companies have acquired assets in Russia, UAE, Namibia, Israel and Oman of which Russia, UAE and Oman are  producing  assets.  A  chart  containing  the  details  of  acquisitions made in the last three years is at Annexure-I.
- (b) As  a  general  approach,  in  order  to  augment  India's  energy  security, Government  has  been  encouraging  Indian  Public  Sector  Oil  and  Gas companies to aggressively pursue overseas equity hydrocarbon opportunities.
- (c) In all agreements, there are clauses relating to Force Majeure.

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## Annexure-I

|   S. No | Countr y of Project   | Name of Project         | Date of acquisitio n of asset                              | Acquisitio n Cost (in USD million)   | Participating Companies along with P.I.                                                                                             | Present Status           |
|---------|-----------------------|-------------------------|------------------------------------------------------------|--------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|--------------------------|
|       1 | Russia                | Vankor                  | May'16 (15%) Oct'16 (11%)                                  | 1912.11 1785.1                       | ONGC Videsh: 26% IOCL, OIL, BPRL: 23.9% Roseneft (O): 50.1%                                                                         | Producing                |
|       2 | Russia                | Taas Yuryakh            | Oct'16 (29.9%)                                             | 1149.82                              | OIL, IOCL, BPRL - 29.9%                                                                                                             | Exploratio n in progress |
|       3 | Namibia               | PEL 0037                | 03.10.201 7                                                | 0.232                                | ONGC Videsh: 30% Tullow (O): 35% Pancontinental Namibia (Pty) Limited: 30% Paragon Oil and Gas (Pty) Limited: 5%                    | Exploratio n in progress |
|       4 | UAE                   | Lower Zakum Concessio n | Agreemen t Signed: 10.02.201 8 Effective Date: 09.03.201 8 | 665                                  | Indian Consortium: 10% (ONGC Videsh 4%, IOC-3%, BPRL 3%) ADNOC (O): 60% INPEX: 10% PetroChina: 10% ENI: 5% Total: 5%                | Producing                |
|       5 | Israel                | Block-32                | 27.03.201 8                                                | 0.1                                  | ONGC Videsh: 25% BPRL: 25% IOCL : 25% OIL : 25%                                                                                     | Exploratio n in progress |
|       6 | Oman                  | Mukhaizn a              | 05.04.201 8                                                | 329                                  | IOCL: 17% Occidental Mukhaizna LLC: 45% Oman Oil Co. SAOC:20%, Liwa Energy Ltd: 15%, Total E&P Oman: 2% and Partex (Oman) Corpn: 1% | Producing                |