BP prepares for KG seismic tender

Vol 12, PW 15 (18 Dec 08) News in Brief

BP has begun planning ahead at its first oil exploration block in India: KG-DWN-2005/2, for which it will sign a PSC next week on (Monday) December 22.

PETROWATCH learns BP is planning to issue a 2D and 3D seismic tender in the second half of next year for work on the 1949-sq km block, where it is operator (30%) with Reliance (70%). BP reckons it will be easy to secure a seismic vessel.

“The seismic market is â€کsoft’ at the moment,â€‌ says BP. “Lots of seismic boats are looking for work.

â€‌ BP hopes to begin the survey in early 2010, “depending on boat availability.â€‌ In its five-year Phase-I work programme BP has only a seismic commitment, but no well commitment.

“Only if BP decides to enter Phase-II (three years) does it have a one-well commitment,â€‌ we hear. BP and Reliance have different perceptions about the block, which lies 100-km north of D6 and the MA oilfield.

“Some think it could be a deeper MA â€کplay’,â€‌ we hear. “Others think it could be another D6.