Jindal in Georgia

Vol 15, PW 16 (23 Feb 12) News in Brief

Jindal Petroleum is set to hire a land rig from Polish driller NAFTA for a six-well exploratory drilling programme in Georgia.

A Jindal team lead by executive director TK Majumdar travelled to NAFTA’s headquarters at PiÅ‚a in Poland for three days from February 20 for final negotiations. “NAFTA is offering an attractive $25,000/day rate for a 1500-hp rig,” says an industry source.

Jindal received 10 bids for the contract but shortlisted UK-based EDECO Petroleum and NAFTA. It wants to drill one well at 3872-sq km Block 9 and another well at 5880-sq km Block 10, both on the Russian border.

Jindal is planning to drill four more wells at 660-sq km Block 11B near Georgian capital Tbilisi, which is producing 550 b/d of oil from 58 wells. It is also set to hire Schlumberger on a $5m contract for ‘wire-line logging’, ‘cementing’ and ‘directional drilling’ services.

Jindal (75%) partners fellow Delhi-based explorer EnSearch Petroleum (25%) at its three Georgian blocks.