India

India provisionally awarded Bengal Energy International Inc., Calgary, rights to 340,000-acre Block CY-OSN-2009/1 in the southern Cauvery basin.

By OGJ editors
HOUSTON, Oct. 22
– India provisionally awarded Bengal Energy International Inc., Calgary, rights to 340,000-acre Block CY-OSN-2009/1 in the southern Cauvery basin.

The block has a $2 million work commitment of 310 line-km of 2D seismic and 81 sq km of 3D seismic in the first 4 years of a 7-year exploration phase. Drilling is required to hold the block after 4 years.

At least one seismically defined feature could cover as much as 16,000 acres. More than 60% of the block is in less than 100 m of water and 85% is in less than 500 m. A production sharing contract could be signed in January 2010.

The Cauvery basin covers 250,000 sq km and has 28 producing oil and gas fields, Bengal Energy noted. The company also has 30% working interest in onshore block CY-ONN-2005/1 in partnership with India’s two national oil companies.

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