Cairn India plans to launch $45 mn drilling campaign in KG basin: Media Reports

Operator of India's largest oilfield in Rajasthan, Cairn India had last month announced discovery of its 26th oil finding in the Barmer block of the state. Encouraged by its Barmer success, the leading explorer is now focusing on its oil and gas acreage in the onshore area of Krishna Godavari basin, as per the media reports.

In line with its plans to explore KG basin, the company is launching a drilling campaign worth USD 45 million in the area next week, the report stated.

A senior industry executive told media that Cairn India is planning a two-well appraisal program in the Nagayalanka SE discovery area, which is the largest oil discovery in the onshore part of KG basin till date.

"The tendering for the rig and allied services is complete and drilling is expected to commence later this month," the executive said.

"The mobilisation of the drilling rig to the site is already underway and this appraisal drilling programme will help the company evaluate the size and commerciality of the second discovery in this area. The first well is being planned to be spud in two weeks time," he added.

Read more about: cairn india
Story first published: Monday, June 10, 2013, 12:45 [IST]
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