Assam Company for more aggressive in Nelp VII, to raise $ 250-300mn
The Assam Company Ltd (ACL) is looking to partner domestic and international firms in its pursuit for more oil and gas blocks to be auctioned under the seventh round of National Exploration Licensing Policy, its director Abhay Chawdhry said.
By PTI |
KOLKATA: The Assam Company Ltd (ACL) is looking to partner domestic and international firms in its pursuit for more oil and gas blocks to be auctioned under the seventh round of National Exploration Licensing Policy, its director Abhay Chawdhry said.
"In this round, we are planning to bid for more oil and gas blocks in other parts of the country. We are in talks with several companies to form joint venture for bidding," he told PTI.
The government will auction 57 oil and gas blocks under National Exploration Licensing Policy-VII, the bid date for which has been postponed to May 16.
ACL, which currently has two blocks in joint venture with Canadian energy company Canaro Resources, is aiming at larger blocks in this round. Chawdhry, however, did not divulge names of the possible partners for NELP VII.
Speaking about the existing oil blocks, he said Amguri fields was producing 1,000 barrels oil equivalent (BOE) of oil and gas per day, but the production would go up after more facilities were installed.
"We are aiming to increase the production to 5000 BOE per day by end of 2008-09," he said.
Speaking about development of Amguri fields and AA-ON exploration blocks, he said that the company would invest USD 32.82 million as its share for development of 14 oil and gas wells for 2008-09.
"In this round, we are planning to bid for more oil and gas blocks in other parts of the country. We are in talks with several companies to form joint venture for bidding," he told PTI.
The government will auction 57 oil and gas blocks under National Exploration Licensing Policy-VII, the bid date for which has been postponed to May 16.
ACL, which currently has two blocks in joint venture with Canadian energy company Canaro Resources, is aiming at larger blocks in this round. Chawdhry, however, did not divulge names of the possible partners for NELP VII.
Speaking about the existing oil blocks, he said Amguri fields was producing 1,000 barrels oil equivalent (BOE) of oil and gas per day, but the production would go up after more facilities were installed.
"We are aiming to increase the production to 5000 BOE per day by end of 2008-09," he said.
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Speaking about development of Amguri fields and AA-ON exploration blocks, he said that the company would invest USD 32.82 million as its share for development of 14 oil and gas wells for 2008-09.
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