Premier Oil begins seismic survey in Assam

Vol 6, PW 24 (12 Feb 03) News in Brief
     

Premier Oil has begun shooting 155-km 2D seismic at its 870-sq km Assam exploration block AAP-ON-94/1.

This follows the oil ministry's completion of formalities to assign operatorship and 38% participating interest to Premier as well as 27% to its partner Indian Oil. Hindustan Oil retains 25% and Oil India 10%.

Premier expects to complete the seismic in May when it will process and interpret the data. All this is part of the 'Phase-II' work programme that has been brought forward to 'Phase-I'.

Phase-I ended in November 2002 but has been extended by a year by the oil ministry. In 'Phase-II' Premier wants to drill one well to a target depth of 2,500 metres.

Block AAP-ON-94/1 is Premier and Indian Oil's maiden entry into the Indian oil exploration sector.