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      Invenire Energy’s DSF III Fields in Mumbai Offshore can Produce 110 Million Barrels of Crude Oil during the Primary Production Term of 20 Years

      Invenire Energy, India’s first private equity-back energy focus company, has announce that the three discover fields, acquire by the company in DSF III Bid Round, hold the potential to conservatively produce 110 million barrels of oil during the 20-year primary production term.

      The three fields, namely B66, B154 and B203, are locate in the prolific Mumbai Offshore Basin and have 8 oil discoveries with in-place reserves of 344 million barrels of oil.

      Speaking at the three-day GeoIndia Conference, which conclude on 16th October 2022, Mr. Bhuwan Gariya, Chief Technology Officer at Invenire Energy said that the three blocks are spread over an area of 2,604 sq kms and locate in the shallow water depths ranging from 30 to 82 meters.

      Bhuwan Gariya adds that relative proximities of these fields offer significant synergies for low-cost production and early monetization opportunity for the Company.

      Bhuwan Gariya Said :

      “India is endowed with 26 sedimentary basins spread across 3.4 million sq.kms. Whilst 3.6 billion barrels of crude oil and 1 TCM of gas reserves have been established in just 0.5 million sq kms acreage, what’s really appealing is the size of the yet-to-be established prize which stands at 200 billion barrels of oil equivalent,”.

      Participation by independent players like Invenire Energy reflects a renewed interest in the country’s upstream sector.

      Launch of Open Acreages, Discover Fields, Coal Bed Methane and City Gas Distribution Rounds are real time opportunities for long-term investors across the globe to invest in India.

      Mr Manish Maheshwari, Chairman, Invenire Energy Said :

      “We truly believe in India’s potential & ability to be atmanirbhar and this belief is reinforced in our strategic decision to further augment our portfolio of discovered assets by securing three fields in India’s prolific Mumbai Offshore Basin”.

      “To access and monetise India’s hydrocarbon potential, investment of capital – both talent and financial – is needed from enterprises – be it NOCs, IOCs, or independents. Indeed, independent oil and gas companies made a game changing contribution in rendering US not only energy secured but surplus,”.  

      Side steeping the world of incrementalism, the Ministry of Petroleum & Natural Gas and Directorate General of Hydrocarbons have ushered in transformative policy reforms.

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      In the industry round-table on opportunities in India held in Houston on 11th October, 2022, Hon’ble Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri launch Mega Offshore OALP Bid Round-IX offering 23 blocks and covering almost 220,000 square kilometres.

      Super majors, majors and independent oil and gas companies attended this event wherein the Ministry emphasised that the erstwhile ‘no-go’ offshore areas with substantial resources have open for harnessing hydrocarbons.

      Petroleum Secretary Pankaj Jain, while speaking in Houston, highlighted India as the destination of energy opportunities and said “India offers ease of doing business” and assured “an open-door policy to resolve any issue face by the industry”.

      Seamlessly executing these measures of transformative policies in an ecosystem which is creative and innovative would help India stride towards the goal of energy security and independence.

      About Invenire Energy

      Invenire Energy is India’s first private equity backed energy focus company participating in conventional and unconventional plays in South-East Asia and East Africa with gross recoverable reserves in excess of 250 million barrels of oil.

      In a short span of 3 years, Tata Petrodyne, Dian Energy B.V., Hardy Exploration & Production (India) Inc. (USA) and JEKPL have all become wholly owned subsidiaries of Invenire Energy.

      In Discover Field Bid Rounds offered by the Government of India, the Group has acquire assets in Assam and offshore Maharashtra.

      Invenire’s existing portfolio of Indian acreages in excess of 5500 sq.kms spreads across the prolific Cambay, Mumbai High, Cauvery and Assam Arakan Basins.

      Invenire has leverage its success on ‘thinking big and acting small’ by building a healthy mix of roof shot projects, allocating capital judiciously, and implementing technology and talent to de-risk business and produce natural resources responsibly and sustainably.

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      Invenire strongly believes in the philosophy of giving back to the society and is deeply commit towards developing sustainable communities and safeguarding the environment.

      Horizen Energy Reimagine, the low-to-no-carbon venture of Invenire, is pursuing initiatives towards making alternative energy less alternative and more attractive to environment and economy.

      As a responsible corporate citizen, Invenire strives for socio-economic and sustainable development in its areas of operations and beyond.

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