Georgia for Jindal and EnSearch

Vol 12, PW 22 (09 Apr 09) News in Brief
     

Reliance and Essar might be offloading their overseas assets but Noida-based EnSearch Petroleum and the $10bn Delhi-based Jindal Steel and Power group are not.

On March 24, EnSearch (25%) and Jindal (75%) signed a PSC for the 602-sq km onshore block XI-B in Georgia, some 25-km from the capital Tbilisi. XI-B is producing 400 b/d but EnSearch and Jindal are planning 20 workover and three exploration wells over the next 12 months to ramp up production to 20,000 b/d within six years.

“We want to increase production by 1500-2000 b/d every year,â€‌ we hear. “The block can produce 134m barrels.

â€‌ EnSearch (15%) and Jindal (85%) also partner in blocks IX, X and XIII-A, signed on January 15. “Blocks IX and X have the most potential,â€‌ we hear.

“Around 30-40 discoveries have been made at both. Oil is seeping out despite the cement casing.

â€‌ Jindal also owns Block VII-A in Georgia, with 100%. EnSearch has acreage in India, Australia, Jordan and Nigeria.