Premier targets October for first Assam well

Vol 7, PW 6 (04 Jun 03) News in Brief

Premier Oil has begun scouting for a drilling contractor for its AAP-ON-94/1 block in Assam.

By the middle of June Premier hopes to complete a 155-km 2D survey in the 870-km block carried out by an Israeli firm under contract to Asian Oilfield Services of India. After processing and interpretation Premier will select a drilling location and award a contract by September under 'Phase-II'.

"Planning has already begun," reveals a source. "We hope to begin drilling by October." Undaunted by thick jungle and hilly terrain, Premier is confident of success.

"We are hoping for oil, but gas would also be welcome," he adds. "Volume is critical in any decision to monetise a discovery." IOC holds a (sleeping) 27% stake in AAP-ON-94/1.

Its nearby Digboi refinery is a natural buyer.