IOC preparing to spud Cambay well

Vol 18, PW 11 (29 Jan 15) News in Brief

IndianOil is preparing to spud an exploration well on January 30 at its NELP-VII onland Cambay basin block CB-ONN-2005/7 using refurbished 1000-hp land rig MR-12 (formerly MR-1) hired from Essar Oilfield Services.

IOC prepared location CB-ONN-2005/7-A near Kiya and Atali villages last week and the rig underwent third party inspection by Bureau Veritas, hired by Delhi-based Enquest Petro Solutions, which is supervising the drilling. IOC plans to drill the planned well to 650 metres TD and hired the Essar rig on June 11, 2014 at $11,800/day for a five-well campaign plus two ‘optional’ wells.

Separately, Essar received an LoA in late December for rig LR-3 from Pune-based real estate group BG Shirke to carry out a workover at its first well Manepalli-1 at the Manepalli field in Andhra Pradesh which it operates on an ONGC service contract. Shirke has hired LR-3 at Rs10 lakh/day ($16,667).

LR-3 is expected to begin work in late February and complete the assignment in a month.