Tata wants to â€کfarm-out' in Australia

Vol 12, PW 26 (04 Jun 09) News in Brief
     

Mumbai-based explorer Tata Petrodyne says it would welcome partners â€کfarming-in’ to its acreage in Australia if it turns out to be as â€کinteresting’ as it believes.

Tata holds 100% of the 835-sq km AC08-4 permit in the Bonaparte Basin, which it won in March this year as sole bidder. “The area is very small,â€‌ a Tata source says.

“We felt that we could handle the exploration ourselves and therefore decided to go it alone.â€‌ Tata says it is ready to welcome partners after acquiring, processing and interpreting 300-lkm 2D and 300-sq km 3D committed in the three-year Phase-I work programme.

“We can opt out of the block if we don’t see anything interesting after seismic interpretation,â€‌ he adds. Tata is currently studying existing block data and expects to issue a seismic tender for the block sometime next year.

In Phase-II, Tata Petrodyne is committed to drill one exploration well, carry out CSEM studies and geotechnical studies in a programme valued at $13m.