Aban-V for Adani

Vol 15, PW 7 (06 Oct 11) News in Brief

Adani Welspun might soon hire Aban Offshore’s rig Aban-V to drill at its 1191-sq km Mumbai offshore block MB-OSN-2005/2.

PETROWATCH learns Adani, which sent tender documents to 17 pre-qualified drillers earlier this year and received bids by June 2, is working hard to negotiate a good rate. “Aban wants around $65,000/day,” says an industry source.

“This is the same as it quoted for Aban-V in an ONGC rig tender in August, which it lost.” Aban-V is currently under repair at the Lamprell yard in the UAE but expected to move to Indian waters by December.

“Adani wanted to begin drilling (at MB-OSN-2005/2) by September or October,” we learn. “But it postponed these plans to December or January, as it is waiting for Aban-V.

” Adani committed to drill five exploration wells, each sitting in average water depths of 40 metres in the four-year Phase-I at this block, which it operates with 100%. Each well will be drilled to 3000 metres TD, targeting the Tapti and Daman geological formations.