Cairn downplays oil strike at CB-OS/2 in Gujarat

Vol 4, PW 24 (17 Jan 01) News in Brief
     

Cairn Energy is not overly excited about its latest oil strike ("in terrible conditions") at the CB-OS/2 concession in Gujarat.

"Gas is the main story in this block," a source tells Petrowatch. "The well flowed 600 barrels, but there was a lot of water." In December, Cairn notified oil minister Ram Naik of the strike, and Naik has since been highlighting it "as another sign of India's hidden prospectivity" as he embarks on a global roadshow to promote 25 exploration blocks under the next round of NELP.

Cairn tells this report it has named the new oilfield 'Ambe' (after the Hindu Goddess of power) and will drill an appraisal well there "within the next month".