Alpha Geo begins Oil India 2D in August

Vol 19, PW 14 (24 Mar 16) News in Brief

Alpha Geo will begin shooting a 2360-lkm 2D job for Oil India by August in unexplored areas of Assam and Arunachal Pradesh.

Oil India sources tell this report Hyderabad-based Alpha Geo will begin mobilising next month (April) as it needs time to prepare for the difficult terrain. Alpha has 26 months from August or until November 2018 to complete the project and is targetting to complete 800-lkm 2D every year.

On March 15, Alpha Geo told the BSE it had received a LoA for the Rs102.42cr ($15.20m) contract under the National Seismic Program, after beating Geofizyka Torun, Asian Oilfield and Advent. Virgin areas of northeastern India entrusted to Oil India by the oil ministry and the DGH are targeted at Barpeta, Nalbari, Tezpur, Goalpara and Nagaon near the Brahmaputra River in the Assam-Arakan basin.

Alpha's share price rose to Rs542 ($8) on March 23 from Rs481.40 ($7.20) on March 1.