IndianOil drills dry hole in Cambay
IndianOil’s ambition to carve a niche for itself as an upstream operator has suffered a setback, with a little help from driller Shiv Vani.
On June 4, IndianOil abandoned the first of four ‘firm’ committed exploration wells at 81-sq km NELP-VII onland block CB-ONN-2005/2 after drilling a dry hole. “The well was shallow,” says a source, “and drilled to 2200 metres TD.
" IOC ‘spud’ the well in March using a 2000-hp land rig from Shiv Vani whose performance raised eyebrows. "Shiv Vani said it would mobilise in February 2013,” he says.
“Sure enough the rig reached in February but couldn’t begin drilling because critical equipment was missing. IOC was forced to pay standby charges to Schlumberger because of the delay.
” Worse, Shiv Vani deviated by over 60 degrees from the targeted zone while drilling. “I was shocked to hear this happened while drilling a vertical well,” we learn.
IOC (100% and operator) signed the PSC on December 22, 2008.