Gujarat State Petro Increases Drilling At KG Basin
The state-owned Gujarat State Petroleum Corporation informed that it has acquired second rig Atwood Beacon to expedite exploration drilling at its Krishna Godavari basin block, KG-OSN-2001/3.
The company planned to drill six more exploration wells in the block in 2007 and expects the third rig to join the project in July 2007. GSPC has so far drilled five exploration wells in the block with the sole drill ship Saipem’s Perro Negro 3.
The company has already announced a rich find in the block. As per revised schedule, the field will be brought into production in phases beginning late 2008 or early 2009. The initial production is pegged at 9-10 million cubic metres a day.
Earlier, GSPC had planned to bring the field into production beginning end 2007. However, despite the company’s best efforts to monetise the gas as early possible, the worldwide rig shortage has impacted the development plan, a senior company official said. The official, however, stressed that the project is well on course as per the product-sharing contract signed in 2003.
