Business Daily from THE HINDU group of publications
Thursday, Mar 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 06, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Overseas Investments Web Extras - Petroleum Essar to begin oil hunt in Madagascar onshore blocks soon Pratim Ranjan Bose Kolkata, March 5 Essar Oil has completed its core hole drilling in Ranigunj CBM block and is planning to launch the 15 well drilling in April. The company will also start oil hunt in its three onshore blocks in Madagascar by launching aeromagnetic survey within a month or two. “We have completed the core hole drilling programme in Ranigunj and will start drilling the test production wells in April. We have already mobilised one rig in the field and another one will join shortly to complete the drilling programme in seven to eight months,” a source said. The core holes are drilled to ascertain the presence of coal seams and recoverable CBM reserves. Drilling of test wells will further validate the recoverable reserve. Essar controls 100 per cent interest in the CBM Policy-I block - RG(EAST)-CBM-2001/1 - spread over 500 square km. According to Directorate General of Hydrocarbons (DGH), the block is having an estimated CBM reserve of 42 billion cubic metre. Talking on the overseas oil and gas exploratory assets, the source said the survey would be launched shortly in the three onshore assets acquired by the company in Madagascar.
“The assets spread over a huge 30,000 square km. Accordingly we will start our exploration activities with aeromagnetic survey followed by seismic survey.” Meanwhile, stage is set for well drilling in the onshore L block in Myanmar in May end. Essar oilfield services will be carrying out the drilling. The company is still waiting for the location approvals from the Myanmar authorities to finalise the drilling in the contiguous offshore block (A-2). “We are hopeful to commence drilling in the offshore block after the monsoon,” the official said. More Stories on : Overseas Investments | Petroleum
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