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Seismic data acquired in onshore, offshore blocks

Pratim Ranjan Bose

Kolkata, July 7

Essar Oil is planning to commence a two-well exploratory drilling programme in the onshore block (L) in Myanmar in November. Drilling in the contiguous offshore block (A-2) is expected to begin before the next monsoon hits Myanmar in May 2008, depending, however, on the availability of a rig.

Essar Oil was awarded the blocks along the Rakhine coast of Indian Ocean and in the vicinity of oil and gas discoveries in Bangladesh and Assam.

“We have already acquired the seismic data in both the blocks. Interpretation of data for the onland ‘L’ block is in the final stages of completion and we expect to commence a two-well drilling programme in the block in November,” an Essar Group official told Business Line. The estimated drilling cost is said to be $5 million per well.

Though interpretation of seismic data for the A-2 block is slated for completion in November, the drilling schedule is yet to be finalised. The shallow-water block has an average water depth of 30 metres.

Referring to the worldwide rig shortage, the official said that efforts were on to place a firm order for charter hire of jack-up rig for drilling in the offshore block. “We expect to procure the rig and start drilling before the onset of monsoon in 2008”, he added.

It may be mentioned that Essar Oilfields Services Ltd, another Essar Group outfit, has entered the drilling business. Apart from a fleet of onland rigs, the company has acquired a (semi-submersible) deepwater offshore rig ‘Essar wildcat’ at a cost of $220 million.

The company has also placed orders for building two jack-up offshore rigs with ABG Shipyard at an approximate cost of $200 million each.

“We are expecting the first jack-up rig to be delivered to Essar Oilfields by end 2008,” the official said.

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