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Adani Welspun wins second oil & gas block in Thailand

Adani Welspun wins second oil & gas block in Thailand
PTI
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First Published: Wed, Jan 23 2008. 03 31 PM IST
Updated: Wed, Jan 23 2008. 03 31 PM IST
New Delhi: Adani Welspun Exploration Ltd (AWEL), a joint venture between multi-billion dollar Adani Group and pipemaker Welspun Group, has won a second oil and gas block in Thailand.
Thailand’s Energy Ministry on 21 January awarded concession rights for 13 onshore and offshore oil and gas blocks, with Adani Welspun Exploration Ltd winning onland Block L22/50, B Mathur, company’s chief executive officer said.
Block L22/50 measures 3,957 sq km in area and lies in western Thailand.
AWEL had previously won 3,975 sq km Block L39/48 in the north eastern part of Thailand, near the southern rim of Khorat Plateau and towards the edge of Greater Khorat Basin. The block is situated 350 Km from Bangkok and 100 km from Khon Kean city.
“We are in midst of planning and executing seismic and drilling activities in these blocks as well as actively pursuing new business opportunities in India and globally,” Mathur said.
The 13 blocks awarded this week are part of the 56 onshore blocks and nine offshore blocks in the Gulf of Thailand, spanning 2,35,606 sq kms, which are being offered in the 20th petroleum concession bidding round of Thailand. Companies have until May 2008 to submit bids for the other blocks. The Department of Mineral Fuels will evaluate each set of bids on the 15th of every month until the end of the bidding round on 22 May, 2008.
Ahmedabad-based Adani Group has interests in natural gas distribution, ports and power, while Mumbai-based Welspun Group is into making pipes for the oil and gas industry.
AWEL has majority working interest in two onland exploration blocks in India -- CB-ONN-2004/5 and AA-ONN-2004/4 -- that were awarded during sixth auction round under the New Exploration Licensing Policy (NELP).
Block CBONN-2004/5, measuring 75 sq km, is located in Cambay Basin, while 95 sq km Block AAONN-2004/4 is located in the Schuppen belt of Assam Arakan Basin and lies to the south east of Digboi oil field and south west of Kharsang oil field.
Mathur said AWEL was likely to bid for blocks offered in the latest NELP-VII round.
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First Published: Wed, Jan 23 2008. 03 31 PM IST
More Topics: Adani | Welspun | Thailand | AWEL | Oil |