Business Daily from THE HINDU group of publications
Friday, Jul 04, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Jul 04, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Outlook Industry & Economy - Petroleum Cairn to start drilling campaign in northern Bihar Our Bureau Kolkata, July 3 Cairn India will launch exploratory drilling campaign in its onshore block GV-ONN-2002/1 in northern Bihar after the monsoon. The company has already lined up a rig to drill the first well at Havidih under the Baheri circle in Darbhanga district, a press release said. Located in the Ganga Valley basin, GV-ONN-2002/1 block was awarded to a consortium of Cairn India and its parent Cairn Energy PLC in NELP-IV. Cairn India holds 50 per cent operating interest. 7-year periodAccording to the production-sharing contract, Cairn India has a seven-year exploration period, comprising three phases, from the issue of the Petroleum Exploration Licence on June 8, 2005. The Ganga basin is one of the largest as well as least explored sedimentary basins in India without any commercial discovery reported so far. According to Cairn India, the company has decided to launch the drilling campaign following collection of seismic data over the last 2 years, including information from an airborne geomagnetic survey of the block and 2D seismic data through application of innovative techniques. The analysis of more than two thousand rock and soil samples from across the block is in progress. The district land acquisition officials of Darbhanga have initiated the process of acquiring 4.5 hectares at the drilling site, the release added. Cairn starting seismic survey in Bihar More Stories on : Outlook | Petroleum
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