Offshore staff
(Asia-Pacific) - Oil and Natural Gas Corp. Ltd. of India has awarded a service contract for the development of offshore marginal fields, Cluster 7, to the consortium of Malaysia's M3nergy Berhad, Hindustan Petroleum Corp. Ltd., and Prize Petroleum Co. Ltd.
The scope of work includes the geological, geophysical and reservoir assessment, field development, operations, and maintenance of the fields over a period of two to three years.
The estimated life expectancy of the oil and gas producing fields, off Mumbai, is 10 years based on estimated reserves of between 30 – 40 MMbbl of oil.
Daily production is anticipated to hit 15,000 bbl, says M3nergy, which has 30% partnership in the consortium and will be the project executor.
HPCL has 60% partnership in the consortium and PPCL 10%.
04/18/06
