HPCL, in consortium with E&P partners companies currently has 19 nos. blocks in India, and 4 nos. overseas blocks in Oman, Australia and Egypt. HPCL intends to implement a strategy for E&P business based on opportunities both within and outside India — to reduce its dependence (and risk) from oil marketing business in India, which is a loss making operation, unless government finds the will to make a change.

Currently HP E&P has presence in 4 countries including India and plans to expand its portfolio in other countries which is a main area of focus of its Strategic Investment plan mainly in Middle East, South East Asia & Africa.

Oman onshore Block-56

Oman Block-56 was awarded during July 2006 by Ministry for Oil & Gas (MOG), Sultanate of Oman to the consortium consisting : M/s Oilex, Australia (25%), HPCL (12.5%), BPCL (12.5%), GAIL (25%) and Videocon (25%). The block is located at the SE flank of Southern Salt Basin, of area: 5809 sq Km and adjacent to PDO Block-6 producing area.

So far, 7 exploratory wells have been drilled, including 1 exploratory-appraisal well, targeting formations of Gharif, Al-Khlata and Huqf-Haima group. Some encouraging discoveries have been achieved at 2 wells with Crude API at 16-20. The balance MWP includes drilling of 4 wells and 3-D Seismic API. Additional well testing plans and forward strategy for block-wide prospectivity are being taken up.

Western Australia deep-water block WA-388-P

The Dept. of Industry and Resources, Govt. of Western Australia awarded during Aug. 2006, a deep-water Australia block WA-388-P to a consortium consisting : M/s Oilex (20%), HPCL (20%), BPCL (20%), GSPCL (20%) and Videocon (20%). The area of the block is 4290 sq. Kms. with a water depth of over 1000 meters and is ~ 250 kms. away from the NW Australian shore at Carnarvon basin and is in close proximity to major gas condensate production.

The Seismic acquisition has been completed and data processing is in progress. The Phase-II would commence and drilling of 1 well is scheduled after August 2010. Recently, M/s Sasol International has been assigned 30% PI, with other existing partners retaining 14% PI. It is planned that M/s Sasol would be the operator after Aug. 2010.

Egypt International 2008 Bid Round-1 by GANOPE

The consortia of M/s GSPC (50%), HPCL (25%) and Oil India Ltd. (25%) were declared winner during Dec. 2008 for two offshore oil concessions in Egypt at : Block-3 at South Quseir and Block-4 at South Sinai. It is expected that the PSC would be signed soon for these blocks.