Petrom plans BB-OS/5 well without fresh seismic

Vol 5, PW 12 (01 Aug 01) Exploration & Production
     

In the next few days Petrom of Romania plans to issue a tender for a slot-type or mat-supported jack-up and associated services to drill a well in water depths of 45 metres in its BB-OS/5 concession in the Bombay Offshore.

Operator Petrom has a 21% stake in BB-OS/5 with the balance held by Essar Oil. We learn the company will spud the well in October or mid-November after the monsoon, as part of a one-well work commitment for Phase-II.

But Petrom will be drilling without fresh seismic. Some weeks back it aborted a planned 120-sq km 3D seismic survey of the northern part of the block following a poor response to its tender.

Only PGS Reservoir and Western Geophysical bid. PGS was rejected because it could only work after the monsoon, while Petrom wanted it before.

Western's bid was rejected as "too expensive" after the company quoted approximately $2m for a job that Petrom had budgeted for around $1.2m. Petrom will now base its drilling programme on old 2D seismic, most of it from ONGC, and dating back to the 1970s.

A fresh 3D seismic tender is planned after the well is drilled.