PFH wants to begin drilling DSF fields by 2018
For a newcomer to the oil and gas sector, PFH Oil and Gas (short for Poddar Family Holdings) is doing well and moving fast.
By the second half of 2018 the Kolkata-based oil and gas startup wants to begin drilling at two of three fields won in the DSF round which closed on February 15: KG/ONDSF/Achanta/2016 or Achanta, and KG/ONDSF/Bhimanapalli-Uppidi/2016 or Bhimanapalli, both in Andhra Pradesh. Promoted by 29-year old UK and US-returned entrepreneur Harsh Poddar, PFH applied to the environment ministry for Bhimanapalli clearance on October 3 and for Achanta clearance on September 25.
"Drilling will begin as soon as we receive the clearance," reports a company source. "Usually this takes seven to eight months." At the 15.01-sq km Bhimanapalli field, PFH plans to workover two wells drilled and abandoned by ONGC: Bhimanapalli-1 and Uppidi-1.
Also planned are five possible exploration wells. "Exact locations will be finalised after interpreting well results, seismic and the success of wells as they are drilled," reads a pre-feasibility report.
At the 9.63-sq km Achanta field, PFH plans to workover two earlier wells, also drilled and abandoned by ONGC: Achanta-1 and CMAA(A). Also planned are up to five possible exploration wells.
"At present we are preparing the FDP and interpreting old well and reservoir data," adds our source. "Once we get FDP approval from the DGH we'll issue tenders for rigs and services."
