Overview

Keywords

Tata Industries Ltd,


Industry

Oil / Gas / Petroleum


Website

www.tatapetrodyne.in


Contact

Location

India


Email

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Contact

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Company Profile

Tata Industries Ltd. originally promoted TPL with the objective of spearheading the group’s foray into the upstream sector of the oil and gas industry. It was incorporated in 1993.

Ownership of the company changed with its acquisition by Tata Power Company Ltd. in line with the group’s strategy to consolidate all its energy businesses into a single corporate entity. However, Tata Power is currently engaged in expanding its activities in its core area of operations viz. generation and distribution of electricity in view of the recent liberisation of the power distribution business in India.

Looking at the very nature of the oil & gas business which requires focus and large investments, the parent company of the Group i.e. Tata Sons Ltd, bought over Tata Power’s 100% stake in Tata Petrodyne Ltd in March 2005.

Tata Petrodyne has since 1994 participated in various rounds of bidding conducted by the Government of India, and today has interests in seven Indian oil and gas blocks won in earlier rounds. All these projects were secured and implemented in strategic alliances with both foreign & domestic oil companies.

In the sixth and seventh bidding round of National Exploration and Licensing Policy (NELP), Tata Petrodyne has won four blocks in association with ONGC and Cairn Energy in the Palar (PR-OSN-2004/1 & PR-ONN-2005/1), Kerala Konkan (KK-DWN-2004/1) and Ganga Valley (GV-ONN-2005/3) basin.

The Operators for the seven blocks in which the Company has interests are Hardy Exploration and Production (India) Inc for the Block CY-OS-90/1, Cairn Energy for the Blocks CB-OS/2 & PR-OSN-2004/1 and ONGC for the Blocks CB-OS/1, KK-DWN-2004/1, PR-ONN-2005/1 and GV-ONN-2005/3. All three Operators are companies of international repute and standing in the business, with a high degree of success in oil and gas exploration.

Tata Petrodyne has in March 2007, also acquired participating interest in a gas bearing block in North Sea thus making its first international venture.

In 2009, the Company gained Operatorship status after having been granted permit for offshore Block AC/P46 in Australia.


More recently, the Company, through its subsidiary, Dian Energy BV (DEBV), has acquired 100% interest in O&G NewCo1 BV, from Oil & Gas Equity Holdings, a 100% subsidiary of Shell Technology Venture Fund BV. Following the transaction, DEBV will be the parent company of the following companies Meruap B.V., Merangin B.V. and Belida B.V. These companies respectively hold title to the following interests in Indonesian Assets:
An undivided, 30.0% non-operated working interest (“WI”), in the Meruap Technical Assistance Contract.
An undivided, 35.4% non-operated working interest (“WI”), in the Merangin Dua Production Sharing Contract and,
An undivided, 14.0% non-operated WI, in the Belida Production Sharing Contract.

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