Premier to spud Cachar well in November

Vol 10, PW 11 (21 Sep 06) News in Brief

Premier Oil wants to spud its Masimpur-3 exploration well at CR-ON-90/1 (Cachar) in Assam by 11th November.

PETROWATCH learns from industry sources that work on the drill site began last month in readiness for the four-month drilling programme that is expected to last until the end of March next year. Yet, uncertainty continues to cloud the grant of an extension to the Phase-II work programme at this block.

Impressed by Premiers progress, the DGH is pressing the oil ministry to grant an extension of five months to offset the time wasted in obtaining a Petroleum Exploration Licence and other mindless formalities associated with drilling. But the oil ministry seems ready to grant only an extension of three months till October this year.

On 19th June, Premier announced a Letter of Intent to Century Drilling of Australia for its Century 28 rig to drill the Masimpur-3 well and a possible further two wells at CR-ON-90/1, which it believes holds 2-tcf in-place.