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Old June 27th, 2016, 11:49 AM   #81
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“The planned award is for two blocks out of twenty. The parties have committed to maintain or accelerate their work programme, partly assisted by the prevailing lower prices of goods and services in the industry. This means it’s possible that we might see drilling commence within this year.”

Extensive data has been collected from seismic surveys and previously drilled wells in the Cauvery basin, he said. This data explains the reasons for why those earlier wells missed their targets. This means that today drillers can be more confident about their prospects.

“We have a good potential mix of oil, gas and condensate. The discoveries made recently in the Mannar basin were not of crude oil, but of gas and condensate, however large potentially crude-filled structures indicated on seismic are amongst our priority targets for the future.”
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