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Pratim Ranjan Bose

Kolkata, Oct. 19 The British Gas operated Panna-Mukta-Tapti joint venture plans a nine-well in-fill drilling programme to enhance recovery from the Panna-Mukta oilfield. The project estimated to cost around $150-160 million (approximately Rs 720-760 crore at the current exchange rate) is now awaiting the regulatory approval.

Commenting on the proposed programme, a source told Business Line that the project was aimed at enhancing the recovery from the matured field from 10 per cent to 20 per cent. The proposal was currently awaiting the approval of the management committee under the Union Petroleum Ministry.

In-fill wells are aimed at pumping water inside the oil and gas reservoir for maintenance of reservoir pressure to retain or step up production from the existing production fields.

The PMT joint venture produces approximately 17 million standard cubic metres a day (mmscmd) of natural gas and 50,000 barrels of oil daily from the three fields. Of the total, Panna-Mukta generates 40,000 barrels of oil and 5.5 mmscmd of associated gas.

Meanwhile the joint venture has started implementing the recently approved $300-million (Rs 1,400 crore) project to drill nine production wells and two platforms in Panna-Mukta.

The project includes development of a satellite oilfield discovered in the region as well as stepping up oil production from Panna-Mukta field.

Though the detailed production projections are not available, sources say that the project includes drilling of six wells and one additional platform in Panna-mukta and three wells and one platform at a recently discovered satellite oilfield in the region.

The platforms are slated be commissioned before monsoon in 2009 followed by drilling activity.

BG has already invited tenders from the rig operators for two jack-up rigs for a one-year firm contract to carry out the drilling activity.

More Stories on : Petroleum

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