Established in 1985, Selan Exploration Technology Limited is a leading private sector listed company engaged in Oil & Gas Exploration and Production (E&P) since 1992. As one of the pioneers in the Indian E&P sector, the Company was among the first private sector entities to obtain rights for developing discovered oilfields in Gujarat after the Government of India opened the sector to private players in 1992. At present, the Company holds a portfolio of three Oil and Gas fields, namely Bakrol, Lohar, and Karjisan, located in the State of Gujarat.
The company presently undertakes seismic data acquisition work for ONGC in the Cauvery Basin in South India. Commencing the work in 1991, till 1995, the company had covered 1666 ground line kilometres (GLK). The second two-year phase work commenced in Aug.'94.
The company entered into the business of proven oil fields where presence of hydrocarbon is already established. Ministry of Petroleum and Gas, Government of India, has approved of contracts with the company for the development of oil and gas fields namely, Lohar, Bakrol and Indrora. The company came out with a public issue in Feb.'95 to invest in development of the discovered oil fields. It obtained physical possession of the oil fields in Dec.'95 and oil production commenced in Jan.'96.
Selan is having detailed negotiations with the Ministry of Petroleum for award of additional oil fields in onshore Gujarat.
During 1998-99, the seismic division of the Company has completed data acquisition of approximately 25 Sq. Kms. area at Indrora oilfield. The company's net profit increase from 8 million to 14 million in the year 1999-2000 as compared to the previous year.
During the year 2000-01, the Company drilled a new well in the Bakrol field. The Seismic evaluation was undertaken with reference to Indrora field during 2001. In 2009-10, the Company commenced commercial sale of Associated Natural Gas, though on a small scale. It commenced a new drilling campaign across all its existing fields during the FY 2022-23.