Rig tender this month from Hardy

Vol 11, PW 11 (04 Oct 07) News in Brief

Hardy Oil and Gas will issue a tender for a floater later this month for a three-well appraisal programme at shallow water block CY-OS/2, offshore Pondicherry.

Hardy is in preliminary talks with drillers to narrow down the choice of rig. “A formal tender will be issued this month,â€‌ we hear.

“Hardy wants to begin the appraisal drilling programme in the later part of next year.â€‌ On September 24 Hardy said in a statement that the appraisal programme would “evaluate the potential commercialityâ€‌ of a gas discovery, announced in January this year at the Fan A-1 well.

Hardy said an intermediate zone in this well, “between the two main targets was successfully tested and flowed at an initial rate of 10m cf/dâ€‌. Hardy is integrating drilling results into its geological and geophysical model for the field.

Block CY-OS/2 measures 859-sq km and sits in the northern part of the Cauvery Basin. Hardy (25%) and GAIL (75%) are partners on this block.

ONGC can â€کback-in’ 30% on commerciality.