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Pratim Ranjan Bose

Gujarat State Petroleum Corporation to prepare report

Kolkata April 2 Gujarat State Petroleum Corporation (GSPC) will submit the development plan for KG basin block by mid-2007.

"The Directorate General of Hydrocarbons (DGH) has recently approved one well appraisal drilling plan in the KG basin. This is a pre-requisite to submit the development plan," GSPC Managing Director, Mr D.J. Pandian, told Business Line.

"The drilling is on and we are roughly three weeks away from reaching the targeted depth of 6,000 metres, following which the well will be tested. Overall, it should take two to three months to complete the entire procedure," he added.

Denying having missed any DGH-approved timeframe for submitting the development plan, Mr Pandian said that the company had previously set an internal target to give-in the plan latest by March. GSPC holds 80 per cent operating interest in the shallow-water Deendayal block.

Parallel to the appraisal drilling, the company has embarked on the second phase of exploration drilling in the block.

Having planned to drill a total of 10 exploratory wells by 2007-08, GSPC is now about to spud the seventh well.

"We are trying to pace up the entire process and trying to charter the fourth rig in the block," he said. GSPC has currently deployed two rigs — Saipem's Perro Negro 3 and Atwood Beacon in KG basin — and has recently awarded a $250 million contract to Essar Oilfields Services Ltd.

The latter will join the GSPC drilling campaign in KG basin with the Essar Wildcat semi-submersible rig in July.

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