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Msg  61 of 418  at  2/24/2009 1:49:13 PM  by


Cauvery drilling

The much awaited Cauvery drilling programme is expected to go ahead by April 2009. Niko Resources Ltd, the operator of the block CY-ONN-2003, may however rope-in a fresh rig for the programme, which is likely to target the Cretaceous-Jurassic interval in the block. "We are currently in talks with at least two different service providers for an onland rig for the latest exploratory programme," company sources, familiar with developments in the Tamil Nadu block, revealed to our website on Tuesday (February 24, 2009). The Ahmedabad based John Energy, tipped to carry out the drilling programme for the Canadian firm is presently being ruled out, sources added. Site construction to drill at the locations is underway at Cauvery. Niko will begin the exploratory programme by drilling its maiden well, temporarily christened CY-MK-01.
Niko has set aside a corpus of nearly $10 million for the onland drilling programme. Readers would recall that the first exploratory well in the block was spud in June 2007. Two wells were drilled in the Cauvery acreage during 2008. Petrophysical analysis of electric logs of both wells indicated no significant hydrocarbons. According to the production sharing contract (PSC) for the Southern India block, Niko is committed to acquire 550 sq km of 3D seismic data during the first exploratory phase.
8The E&P firm has shot and processed most of its 3D seismic programme in the Cauvery exploration block. Niko bagged the petroleum exploration license (PEL) for the South India block in August 2006. The block is spread over an area of 957 sq km and 2D API mapping has already covered about 1,000 line kilometers

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