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Kolkata, Feb. 4

THE Canada-based Canoro Resources Ltd, which is operating in the Assam-Arakan basin in the Northeast, is poised to complete the 3D and 2D seismic surveys in three blocks spreading over Assam and Arunachal Pradesh latest by March. Two of the three blocks are being held jointly by Assam Company.

According to a company release, 3D seismic surveys undertaken in the 65 sq. km. Amguri development blocks will be completed by mid-March. Canoro has started producing 500 barrels of oil a day from the field.

Production is expected to go up in the future as the company will identify the locations of more wells following the completion of seismic survey. Canoro holds 60 per cent interest in the block along with Assam Company (40 per cent).

The 2D seismic surveys undertaken in exploration block AA-ON/7 are expected to end in February. Canoro holds 65 per cent interest in the block with the rest being held by Assam Company.

The company also plans to complete the 2D survey in the NELP block AA-ONN-2003/02, in March, well before the monsoon sets in, subject to receipt of petroleum exploration licence from the Arunachal Pradesh Government.

(This article was published in the Business Line print edition dated February 5, 2006)
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