The Duarmara story was another model case, showcasing the ability of the private sector to create significant value in underutilized assets held by PSUs.
Duarmara is a gas field discovered by Oil India between 1968 – 1973. Oilmax was awarded the block in 2017 as part of DSF-Round 1.
GoI estimated the field to have only 0.25 mmboe reserves. The Oilmax team reinterpreted and re-analyzed the field data using the global best-in-class technologies. This re-evaluation lead to discover of massive upside, increasing reserves from 0.25 to 40 mmboe (nearly x160 times)!
Increase in reserves was verified first by leading third party certification agency Gaffney Cline and Associates.
