GSPC's dry well

Vol 15, PW 20 (19 Apr 12) News in Brief

Speculation is mounting GSPC might relinquish its 1520-sq km shallow water NELP-VI block MB-OSN-2004/1 offshore Mumbai.

Early this month (April), GSPC demobilised rig Aban-VII after plugging and abandoning its third and final Phase-I committed exploration well, after it turned out dry just like its two predecessors. Aban-VII spud the third well in water depths of 30 metres on March 19 and drilled it to 1050 metres TD, targeting the Panna geological formation.

It reached TD on March 28, after which GSPC logged the well and abandoned it. Aban-VII has since moved to Pipavav Shipyard where she awaits confirmation from Adani Welspun before she begins drilling five Phase-I wells at its 1191-sq km NELP-VII Mumbai offshore block MB-OSN-2005/2.

Hopefully, she’ll have better luck there! GSPC, Oman-based Petrogas, GAIL, IndianOil and Hindustan Petroleum each hold 20% at MB-OSN-2004/1. ­Aban-IV drilled the first Phase-I well last April, and Aban-VII drilled the second in December.