GSPC confident of finding oil in exploration well KG#30
Gujarat State Petroleum is confident of finding oil in well KG#30 being drilled in the northern most portion of eastern offshore block KG-OSN-2001/3.
Jack-up rig Deep Driller-1 spud KG#30 on 8th May in 45 metres water depth and has been assigned TD of 4200 metres, which it hopes to reach in 45 days. An industry source tells us GSPC is confident of striking oil in this well, located in the â€کnorthern Graben’ area of this 1850-sq km block.
GSPC’s confidence stems from an oil strike by Reliance Industries in the adjacent KG-DWN-98/3 block (also known as D6) which lies to the north of KG-OSN-2001/3. “A Reliance exploration well on the border with the GSPC block struck oil and flowed about 50 b/d,†we hear.
“Such a quantity is not viable for commercial production,†we learn, “but it proves the presence of oil in this region.†GSPC expects its well to do much better than Reliance’s commercially unviable well.
Why “The GSPC well is on the â€کup-dip’ unlike the Reliance well which is on the â€کdown-dip’ of the geological formation. GSPC’s block will have more oil accumulations.
†Moreover, seismic shows “three to four good sized prospects†in and around KG#30. “Some will be independent and some will be contingent on this well.
†Last week, GeoGlobal Resources, 10% partner on the block, said KG#30 is, “the first exploration well to test the deepest part of the northern Graben portion†of KG-OSN-2001/3.
