Panna-Mukta oilfield
| Panna-Mukta | |
|---|---|
 |
|
| Country | India |
| Region | Gulf of Khambhat |
| Location | off the coast of Mumbai |
| Offshore/onshore | Offshore |
| Coordinates | 19°21′47″N 71°56′28″E / 19.362976°N 71.941223°ECoordinates: 19°21′47″N 71°56′28″E / 19.362976°N 71.941223°E |
| Operators | Reliance Industries, BG Group, ONGC |
| Production | |
| Current production of oil | 19,000 barrels per day (~9.5×105 t/a) |
| Year of current production of oil | 2016 |
| Current production of gas | 205×106 cu ft/d (5.8×106 m3/d) |
| Year of current production of gas | 2010 |
| Estimated oil in place | 287 million barrels (~3.92×107 t) |
The Panna-Mukta oilfield consists of two contiguous offshore oil fields to the northwest of Mumbai, India.
The Panna field is 95 kilometres (59 mi) northwest of Mumbai, and has an area of 430 square kilometres (170 sq mi). It is just north of the Bassein gas field and about 50 kilometres (31 mi) east of the Bombay High oilfield. The Mukta field is about 100 kilometres (62 mi) northwest of Mumbai, and has an area of 777 square kilometres (300 sq mi). Average water depth is 45 metres (148 ft) in the Panna field and 65 metres (213 ft) in the Mukta field. As of May 1999 estimated recoverable reserves of oil were 287 million barrels.
The Panna-Mukta oil field and the Tapti gas field to the north were discovered by the Indian state-owned Oil and Natural Gas Corporation (ONGC), who initially operated the fields. Following a privatization policy a Reliance - Enron consortium gained a 25-year lease on the oil field in February 1994. Oil production at that time was 12,000 barrels per day. The lease was awarded under a production sharing arrangement. The Government of India would receive a variable share of profit depending on the investment multiple. In December 1994 a joint venture between ONGC (40%), Enron (30%) and Reliance (30%) took control of the field.
In 2002 British Gas (BG) bought Enron's 30% share of the Panna-Mukta and Tapti fields for $350 million. The other two stakeholders remained the ONGC with 40% and Reliance with 30%. Initially, BG continued as operator in place of Enron. However, there was a dispute between the partners over operation of the field, with BG wanting to control operations and the two Indian firms wanting a more equal sharing of control.
The contract was awarded during the tenure of Satish Sharma as petroleum minister. The Comptroller and Auditor General of India wrote a report that was highly critical of the contract award process. In December 1995 Y.P. Singh, a Superintendent of Police, investigated allegations on nepotism and submitted a detailed report. The Central Bureau of Investigation (CBI) registered a preliminary inquiry in June 1996. By August 1997 the CBI had yet to issue a report on the affair. An article in Outlook India that month reported that serious evidence of bribe-giving by companies looking for oil exploitation contracts had been submitted, but claimed that CBI was attempting a cover-up.
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