Geopetrol and Reliance CBM delay

Vol 12, PW 20 (12 Mar 09) News in Brief

Uncertain economic times have forced a joint venture of Monaco-based Geopetrol and Anil Ambani-controlled Reliance Energy to temporarily shelve exploration work at three of their four CBM blocks for the next few months.

PETROWATCH learns bids from service contractors submitted last October for an ambitious exploration programme would not be awarded any time soon. “You can say that they are still at the evaluation stage,â€‌ a Geopetrol source tells us.

“Everything is delayed because of the global recession and it could be many more months before we have a clearer picture.â€‌ Geopetrol (10%) is operator with Reliance Energy (90%) at four blocks, won in the third CBM licensing round.

Three of them: SP (N)-CBM-2005/III in Madhya Pradesh, BS (4)-CBM-2005/III and BS (5)-CBM-2005/III in Rajasthan, are part of the now delayed exploration programme. No date has been set for work at block KG (E)-CBM-2005/III in Andhra Pradesh.