GAIL farms-in 25% Hardy's CY-OS-2 block

Vol 6, PW 1 (13 Mar 02) News in Brief

GAIL has ' farmed- in' 25% of the 5,000-sq km Hardy-operated eastern offshore block CY-OS-2.

The 'farm-in' agreement is dated 22nd February. On 6th March Hardy began a 21-day workover at CY-OS-2 on ONGC's abandoned well TRA using GESCO's Badrinath rig.

"We have indications of oil and gas inlogs taken nine years ago." 'Phase-II' ends in July with an exploration well to 2,800 metres. Hardy hopes to link any gas discovery with the 0.2m cm/d it flares at PY-3 and land it near Cuddalore.

Talks are on to sell gas to the 350-MW naphtha fired PPN power plant. CY-OS-2 was awarded under the 5th licensing round.

A PSC was signed in 1996.