Partners in the NELP IX bid round Block include Oil India, operator with a 40% stake, Oil and Natural Gas Corporation of India with 30%, and Gas Authority of India with 20% and East West Petroleum with 10%.
The AA-ONN-2010/2 exploration Block lies in the Assam-Arakan Basin oil producing region of northeast India, a proven proliferous region where more than 100 fields have been found with current production estimated at 95,000 boepd.
Under the terms of the PSC work program, the partnership will acquire 395km2 of 3D seismic data and drill two wells, at an estimated cost of $2.8m.
The 3D data will cover the entire Block, which is considered to be oil-prone, and be used to high-grade structural leads already identified on 2D data, in preparation for drilling.
