Oil India seismic in Gabon this month

Vol 12, PW 2 (12 Jun 08) News in Brief

Oil India is about to begin acquiring 2D at its 3761-sq km onshore block FT-2000 (Shakti) in the West African state Gabon.

“Equipment mobilisation is underway,â€‌ says an industry source. “The seismic crew has already reached Gabon.

â€‌ In March this year operator Oil India signed an $18.75m contract with Chinese contractor Liaohe Geophysical to acquire 1000-lkm 2D – more than the 700-lkm commitment. Oil India expects Liaohe to begin work at Shakti by the end of this month but believes the job will take longer than expected.

“This block lies in thick jungle,â€‌ we hear. “The terrain is not soft.

There’s also a river running through it.â€‌ Under the contract, LGEC must mobilise at site within 70 days of the award and seismic acquisition must be completed within 18 months from the contract date.

Oil India (45%) and Indian Oil (45%) farmed into Shakti in April 2006 by acquiring 90% (45% each) from Marvis Pte of Singapore, which continues to hold remaining 10% stake.