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Oilex, Videocon begin drilling in Oman

Oilex, Videocon begin drilling in Oman
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First Published: Wed, Jan 02 2008. 02 14 PM IST
Updated: Wed, Jan 02 2008. 02 14 PM IST
PTI
New Delhi: A consortium of Oilex of Australia, Videocon Industries, GAIL, Bharat Petroleum and Hindustan Petroleum have begun drilling on the exploration block they had won in Oman.
“The Sarha-1 exploration well was spudded on 31 December, 2007. The well is the first of three exploration wells which will be drilled in the Block 56 using the Abraj Rig 2004,” Oilex said in a statement here.
The well will be drilled in 18 days to a total depth of 1,650 metres.
The consortium was awarded the Block 56 in July 2006. “To date, a significant volume of existing seismic data has been reprocessed and during 2007 a large programme of new 2D seismic data was acquired,” it said.
On the basis of the reprocessed data and existing 3D seismic surveys in the western part of the block, a number of exploration well locations were developed for drilling during 2008. The first of these wells is Sarha-1, located on the eastern flank of the South Oman Salt Basin adjacent to several producing fields.
Oilex, Videocon and GAIL hold 25% interest each in Block 56 while HPCL and BPCL have 12.5% each.
“The Block 56 is located on the eastern flank of the south Oman salt basin, an area which has already seen significant exploration success and subsequent production. Several of the fields in this area hold over 500 million barrels of oil in place,” the release added.
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First Published: Wed, Jan 02 2008. 02 14 PM IST