Prize begins workover at three Gujarat oilfields

Vol 9, PW 2 (04 May 05) News in Brief

Hindustan Petroleum subsidiary Prize Petroleum is all set to begin workover operations at three ex-ONGC marginal oilfields in Gujarat: Hirapur, Khambel and West Bechraji.

Awarded to a consortium of Prize Petroleum and Aban Loyd in April 2004, Prize is operator and presently in a two-year assessment phase after which the consortium can either walk away or begin exploration. We understand Prize has issued a Letter of Intent to hire a (John Energy) workover rig for this job.

Four wells drilled earlier by ONGC will be revisited: two at Hirapur, one each at Khambel and West Bechraji. The rig is expected to move to location in the second week of May and will be busy for a month.

Prize received data for the three fields from ONGC in November. The John Energy rig will also drill two wells at Sanganpur, where Prize has farmed-in 50% and plans to jointly operate with Hydrocarbon Resources Development.