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| Edited By: Nandini Goswami |Source: |Updated: Sep 15, 2017, 01:29 AM IST
KOLKATA: Assam Company, the tea-oil-infrastructure conglomerate has struck oil in the North-East.
Its collaborator, Canoro Resources of Calgary, Canada, has successfully completed all tests in oil blocks in Amguri in Assam.
After drilling 28 metres of the 36 meter Main Barail Sand, the company struck condensate and natural gas that is equivalent to 1,330 boe/d (barrels of equivalent oil per day).
Based on successful results from this area, Canoro Resources will prepare an initial development plan for the Amguri field.
Canoro is an international oil and gas company operating in Assam/Arakan basin of north-east India. It is the operator of Amguri field with a 60% working interest.
Currently it produces 550 barrels a day of very light oil. Abhay Chawdhry, chief financial officer, Assam Company, said his company is also keen to acquire oil assets in international markets such as Mongolia, Myanmar and Africa and has earmarked around Rs 900 crore for the purpose.
The successful completion of tests at Amguri 11 happens to be the most successful result till date, a Canoro statement from Canada said.
The main reservoir at Amguri 11 is four metres thicker than the other oil blocks at Amguri 10B and 17 metres thicker than Amguri 6.
“The surface locations of Amguri 10B and Amguri 11 are 200 metres from existing gas and oil sales facilities at Amguri 6. These two oilfields are planned to be tied in and on production prior to year-end. Even at partial rates initially, these wells will significantly increase oil and natural gas production from Amguri,” the company said.
The company is proposing to develop eight more wells in the first phase of the plan, six development wells and two more appraisal wells to delineate the main part of the field.
Further drilling at Amguri is expected to resume during the first quarter of next year.
Apart from the north -eastern region, Assam Company has chalked out Rs 2,000 crore project cost for setting up a hydrocarbon and energy services business near Baroda for which it has set up a separate company called Gujarat Hydrocarbon & Energy SEZ.
