GeoEnpro to hire John Energy rig

Vol 13, PW 18 (25 Feb 10) News in Brief

GeoEnpro is to hire a 2000-hp rig from John Energy to drill one exploration well at its 12-sq km producing Kharsang oilfield in Arunachal Pradesh.

“Draft copies of the agreement have been exchanged,â€‌ says an industry source. “A Letter of Intent will soon be issued followed by a contract.

â€‌ GeoEnpro - a joint venture between Monaco-based Geopetrol and Jubilant Energy - wants to drill the well to between 3200 and 3600 metres depth. “This will be the deepest well ever at Kharsang and should take three to four months,â€‌ we hear.

John Energy will mobilise the John 16rig at Kharsang by end-April for $35,000/day and a mobilisation fee of $1.5m. Kharsang produces 250 kilolitres or 2200 b/d, up from 1000 b/d in 2008.

Credit for this goes to 14 new development wells drilled to the Namsung geological formation by a 750-hp JayBee Energy rig. Out of 55 wells at Kharsang, 19 are being 'worked over' with a 750-hp rig from Assam-based Udipta Energy.