GSPC must drill more wells at Deen Dayal

Vol 10, PW 18 (11 Jan 07) News in Brief
     

Companies interested in GSPC’s Deen Dayal discovery have said they want to see two more wells drilled before submitting equity bids.

“They want us to drill more wells, collect data and give it to them before they submit their financial bids,â€‌ reveals a senior GSPC source. “This is atrocious.

We want a technology partner. If we will do all the drilling what are they going to doâ€‌ Chevron, ENI, British Gas and BP were all expected to submit bids for up to 30% of KG-OSN-2001/3 on 9th January but the deadline came and went unnoticed.

The request for two more wells is supported by the DGH, which last month accepted GSPC’s plea to reduce its well commitment from 14 to ten. GSPC has drilled five wells on the block so far and on 2nd January newly arrived jack up Atwood Beacon spud the sixth well: KG#16.

By 10th January Atwood had drilled 600 metres at the rate of about 100 metres a day to reach Cretaceous targets at TD of 5670 metres.

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