Suntera in Nigeria

Vol 14, PW 7 (23 Sep 10) News in Brief
     

Indo-Russian joint venture Suntera is in talks with seismic and drilling contractors for an exploration and development programme across its two blocks in the Niger Delta.

PETROWATCH learns Suntera’s main focus is on exploration block OPL-905, where it plans to shoot 500-lkm 2D; 50-sq km 3D; and drill two wells over the next 30 months. Nigerian government estimates put the work programme’s value at around $30m for OPL-905, and another $30m for discovered but non-producing block OPL-205, where Oil India and Indian Oil hold a combined 35% stake, and which contains a single capped discovery well.

In November last year Suntera announced it was exiting six Indian exploration blocks in Assam (1), Mizoram (2), Gujarat (1) and Rajasthan (2) where it held minority stakes alongside operators Oil India and ONGC so it could focus efforts on Nigeria. Last October, Texas-based Sky Petroleum announced it would be acquiring Suntera’s stakes in OPL-205 and OPL-905, but talks collapsed.