Interlink Petroleum (IPL) is a public limited company, incorporated in 1993 under the laws of India and listed on the Bombay Stock Exchange. Since 1995, IPL has been engaged in the exploration and production of oil & gas.
Following the opening up of the hydrocarbon sector by the Government of India to attract private investment, IPL was among the first few private sector companies to be awarded the rights to develop the Baola field in Gujarat. The Production Sharing Contract (PSC) for Baola was signed in 1995. This was followed, in 2001, by the award and signing of the Production Sharing Contract for Modhera field also located in Gujarat.
Both the fields are located in the petroliferous Cambay basin which has excellent infrastructure and are in close proximity to the local market for oil and gas. Upon the grant of permission to produce in 2001, and after carrying out necessary work, IPL started production of gas at 12000 Standard Cubic Metre from Baola field through Baola well 1, and supplied gas to the consumers in the local area. The Mining Lease (ML) for the field was granted in 2004. However, production had to be suspended due to water ingress in the well by end of 2004
In 2008, Jit Sun Investments, a company incorporated under the laws of Singapore, assumed majority stake in IPL with infusion of fresh capital. With the resultant change in ownership, IPL plans to revive the Baola field by acquiring 3D seismic data and drilling of additional well(s) by 2010 to resume production.
With respect to Modhera field, the PSC was signed in 2001 and the Mining Lease was issued in November, 2008. IPL is in the process of acquiring 3D seismic data in the field in 2009 to define topographic sub-surface structures utilizing latest technology to help identify reservoir locations and specify drilling locations.