Aban-VII moves

Vol 15, PW 14 (26 Jan 12) News in Brief

Aban Offshore’s rig Aban-VII has moved from GSPC’s Mumbai offshore block MB-OSN-2004/1 to neighbouring block MB-OSN-2004/2, where the consortium is identical but Oman’s Petrogas is operator.

PETROWATCH learns Aban spud the third Phase-I committed exploration well at the Petrogas block last week, and drilling had reached a depth of 170 metres by January 20. Aban-VII is expected to drill to 1500 metres TD at the well, which sits in water depths of 40 metres.

Hopefully, Petrogas will have better luck than the two earlier dry wells it drilled at the block. Aban-VII is next expected to return to GSPC’s block MB-OSN-2004/1 to drill the third Phase-I committed exploration well there.

GSPC, IndianOil, GAIL, Hindustan Petroleum and Petrogas each hold 20% stakes at these two NELP-VI blocks, for which they signed PSCs on March 2, 2007. The PSC for MB-OSN-2004/2 became effective from May 21, 2007 while the PSC for MB-OSN-2004/1 became effective from June 12, 2007.