Pakistan & Indian petroleum ministers discuss gas pipeline project
LONDON: Petroleum Ministers of India and Pakistan held discussions here on a multi-billion-dollar gas pipeline project involving the two countries and Iran, with both sides expressing their keenness to put it on stream. Petroleum and Natural Gas Minister Murli Deora was invited by his Pakistani counterpart Ahsan Ullah Khan to visit Islamabad to sort out various issues outstanding because of which the pipeline is pending, during their meeting held at the Crowne Plaza Hotel here yesterday. Deora assured the Pakistani minister that "India is keen" on the 2,775-km pipeline and issues like the transit fees and strategic investment should be sorted out. Khan, who is accompanying President Pervez Musharraf during his current visit to Britain, insisted that "Pakistan is equally keen that the project is put on stream," said, official sources. Though New Delhi and Islamabad have reached an understanding on the transportation tariff payable to Pakistan, the two nations have not yet arrived at any agreement on payment of a separate transit fee to Pakistan for using its territory. Three-fourth of the pipeline will be passing through Pakistan which will also use the pipeline for providing gas to its consumers. The pipeline is to be laid in the three nations separately. Iran would lay a 1,100-km pipeline from the Persian Gulf to the Iran-Pakistan border, while Pakistan would lay a 1,035 km from its border with Iran to the Indian border. India would then pipe the gas to consumption centres. The total cost of the project was estimated to be over seven billion dollars in 2006.
Source - Economic Times
Sunday, January 27, 2008
Friday, January 11, 2008
Cairn India Speeds Ahead with an Improved Output
Cairn India Speeds Ahead with an Improved Output
by Mark Williamson, Newsquest Media Group The Herald Wednesday, January 09, 2008
The head of Cairn Energy's Indian subsidiary said its key discovery in Rajasthan was now expected to produce oil at a much faster rate after it went on stream quicker than scheduled. Rahul Dhir, chief executive of Cairn India, said the company had submitted a revised report for the Mangala field to regulators in which it forecast output of 125,000 barrels per day.
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That compares with an original plan of around 100,000 bpd. While the company has not increased estimates of reserves, the revised plan holds out the prospect that Cairn India will realise the gains from its huge investment in Rajasthan faster than expected. This will provide a boost for the company's Edinburghbased parent. Cairn Energy retained a 69% holding in the Indian subsidiary after it floated on stock exchanges in that country last year. Cairn India expects to have Mangala onstream in 2009. It forecasts production from Mangala and three other fields in Northern Rajasthan will eventually plateau at 150,000 bpd. The fields are expected to produce for 25 years. Cairn India owns 70% in the Rajasthan block, while state-owned Oil and Natural Gas Corporation has the remaining 30%.
by Mark Williamson, Newsquest Media Group The Herald Wednesday, January 09, 2008
The head of Cairn Energy's Indian subsidiary said its key discovery in Rajasthan was now expected to produce oil at a much faster rate after it went on stream quicker than scheduled. Rahul Dhir, chief executive of Cairn India, said the company had submitted a revised report for the Mangala field to regulators in which it forecast output of 125,000 barrels per day.
Related Products
Production Operations, Volumes 1 and 2
Fundamentals of Petroleum, 4th Ed.
That compares with an original plan of around 100,000 bpd. While the company has not increased estimates of reserves, the revised plan holds out the prospect that Cairn India will realise the gains from its huge investment in Rajasthan faster than expected. This will provide a boost for the company's Edinburghbased parent. Cairn Energy retained a 69% holding in the Indian subsidiary after it floated on stock exchanges in that country last year. Cairn India expects to have Mangala onstream in 2009. It forecasts production from Mangala and three other fields in Northern Rajasthan will eventually plateau at 150,000 bpd. The fields are expected to produce for 25 years. Cairn India owns 70% in the Rajasthan block, while state-owned Oil and Natural Gas Corporation has the remaining 30%.
Saturday, January 5, 2008
Cairn Performs P&A on Bangladesh Well After Disappointing Drilling
Cairn has completed the drilling of the Magnama-1 exploration well in Block 16 offshore Bangladesh. Drilling was performed by Deep Driller 5.
Magnama-1 was drilled at a crestal location to a total depth of 4,003 meters BRT with the primary objective of evaluating the potential for gas in abnormally high pressured sands beneath those productive at Sangu and elsewhere in the basin.
The well encountered a series of well developed sands in the deepest section drilled but these were not gas charged and the well is now in the process of being plugged and abandoned. Magnama-1 also encountered a number of thin gas bearing sands which may be subject to further evaluation at a later date.
The Block 16 Joint Venture will next drill the Hatia-1 exploration well, which is located 12 kilometers northwest of Sangu. It is currently expected that drilling on Hatia-1 will commence shortly.
Source - Cairn Energy Friday, January 04, 2008
Magnama-1 was drilled at a crestal location to a total depth of 4,003 meters BRT with the primary objective of evaluating the potential for gas in abnormally high pressured sands beneath those productive at Sangu and elsewhere in the basin.
The well encountered a series of well developed sands in the deepest section drilled but these were not gas charged and the well is now in the process of being plugged and abandoned. Magnama-1 also encountered a number of thin gas bearing sands which may be subject to further evaluation at a later date.
The Block 16 Joint Venture will next drill the Hatia-1 exploration well, which is located 12 kilometers northwest of Sangu. It is currently expected that drilling on Hatia-1 will commence shortly.
Source - Cairn Energy Friday, January 04, 2008
Hinduja and Ongc to Invest U.S. $20 Billion in Iran
Hinduja Group is on the verge of concluding India's biggest energy deal for developing oil and gas fields in Iran and setting up a refinery and LNG terminal in India involving a total investment of U.S. $20 billion. Hinduja, together with state-run ONGC's overseas arm ONGC Videsh Ltd, will court Iranian firms to invest U.S. $8 billion in developing the 40 billion barrels Azadegan oilfield and Phase-12 of the giant South Pars gas field.
Switzerland-registered Naftiran Intertrade Co, a unit of National Iranian Oil Co, has been offered a stake in the 15 million tons oil refinery, one million tons petrochemical plant and 7.5 million tons LNG receipt facility planned by Hinduja-ONGC at an investment of over U.S. $10 billion at either Kakinada in Andhra Pradesh or Mangalore in Karnataka. Sources said an Iranian delegation comprising heads of Petropars, the subsidiary of NICO that has been awarded development rights for South Pars Phase-12, and PetroIran, another subsidiary of NICO that owns 90% development rights of Azadegan oilfield, made considerable progress towards concluding project agreements with Hindujas-OVL. The Indian consortium of Hinduja Group and OVL will get 60% stake in development of South Pars Phase-12 and just over 50% in Azadegan field, they said, adding a contract for the same will be signed within two months. Azadegan field will produce 150,000 barrels per day of oil in first phase that would double subsequently, while South Pars Phase-12 will produce 12 million tons of gas that will be converted into LNG at a two-billion dollar facility. Hinduja-ONGC have sought supply commitment for the entire oil produced from Azadegan field and 7.5 million tons of LNG from South Pars Phase-12.
Source - Asia Pulse Pte Ltd Friday, January 04, 2008
Switzerland-registered Naftiran Intertrade Co, a unit of National Iranian Oil Co, has been offered a stake in the 15 million tons oil refinery, one million tons petrochemical plant and 7.5 million tons LNG receipt facility planned by Hinduja-ONGC at an investment of over U.S. $10 billion at either Kakinada in Andhra Pradesh or Mangalore in Karnataka. Sources said an Iranian delegation comprising heads of Petropars, the subsidiary of NICO that has been awarded development rights for South Pars Phase-12, and PetroIran, another subsidiary of NICO that owns 90% development rights of Azadegan oilfield, made considerable progress towards concluding project agreements with Hindujas-OVL. The Indian consortium of Hinduja Group and OVL will get 60% stake in development of South Pars Phase-12 and just over 50% in Azadegan field, they said, adding a contract for the same will be signed within two months. Azadegan field will produce 150,000 barrels per day of oil in first phase that would double subsequently, while South Pars Phase-12 will produce 12 million tons of gas that will be converted into LNG at a two-billion dollar facility. Hinduja-ONGC have sought supply commitment for the entire oil produced from Azadegan field and 7.5 million tons of LNG from South Pars Phase-12.
Source - Asia Pulse Pte Ltd Friday, January 04, 2008
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