Jindal Petroleum Ltd. was established in the year 2008. JPL started its campaign by searching and acquiring different oil and gas blocks in different geographies of the world. Participated in various bidding rounds in countries like India, Peru, Nigeria and CIS countries. As a result of the above efforts, JPL acquired five oil and gas Blocks in Georgia. Mr. Naveen Jindal, Chairman & Managing Director led a delegation to sign contracts with the Government of Georgia for exploration and production, indicating the importance of the petroleum business for the company Also the company forayed into oil and gas sector of Bolivia where it acquired a company GTL International and has the right to work in four exploratory Blocks. After extensive exploratory activities, the company has acquired invaluable data of the fields in Bolivia.
Upstream business: JPL endeavours to acquire Development and Producing Oil & Gas fields in various countries.
Midstream business: The company is also planning to set up transportation as well as storage facilities for crude oil and natural gas.
Downstream business: Jindal Petroleum Limited is considering venturing into refining and marketing of various petroleum products.
Jindal Petroleum Ltd. is a subsidiary of Jindal Steel and Power ltd. Established in the year 2008 as a part of Jindal Steel and power's diversification drive.The company acquired 7 Oil & Gas blocks in different parts of the world, including 5 in Georgia, 1 in Bolivia and 1 in India. Mr. Naveen Jindal recently led a delegation to Georgia to sign contracts with the Government of Georgia for the exploration and production of the blocks, signifying the importance the company is giving to its petroleum business. The company has so far committed an investment of US $ 200 million (Rs. 1000 crore) and is working on several other projects in the sector.
Harnessing national and international oil and gas opportunities for country's energy security and prosperity with commitment to health, safety and environment for maximizing shareholder's value.
To become environment friendly global oil and gas company of stakeholder's delight.
Jindal Petroleum participated in VIIth bidding round under "New Exploration and Licensing Policy" (NELP-VII) of Government of India and has been awarded one Exploration Block RJ-ONN-2005/1 in Rajasthan which has an estimated recoverable reserve of "Natural Gas" of 500 BCF.
In August 2008, Jindal Petroleum also participated in Overseas Exploration Bidding Round in Georgia and won 4 Exploration Blocks (Block Nos. VIIA, IX, X and XIII A). In all the four exploration blocks, it has 100% participating interest. Production Sharing Contracts for (PSC) for these 4 blocks were signed with Government of Georgia in January 2009. Subsequently, Jindal Petroleum also acquired 1 Producing cum Exploration Block XIB in Georgia with 75 %. Participating Interest and the PSC for this block was signed in March 2009. The 5 blocks have a total estimated recoverable reserve of 234 MMBBL of Crude Oil and 840 BCF of Gas. Jindal is operator for all the blocks & currently producing about 550 bbl/day.
All exploration & production in Georgia is undertaken by "Jindal Petroleum (Georgia) Limited" an affiliate of "Jindal Petroleum Limited"
JPL Block IX & X
JPL Block VII A & XIII A
- Environmental Impact Study conducted for 5 Georgian Blocks to the full satisfaction of the Government.
- LKM of 2D seismic survey completed in 2 Blocks in Georgia.
- 389 Sq. Km. of 3D seismic completed in 1 Block in Georgia.
- Thermal Imaging/ Spectroscopy study by Houston University conducted in 2 Blocks.
- Workover in over 100 existing wells completed
- Achieved Cumulative production of over 2 lac Barrels of Crude oil since JPL started operation in the field.