GeoGlobal to Begin Exploration Offshore India

GeoGlobal Resources reports that Saipem's Perro Negro 3 Jackup has arrived at the KG#1 well location, which is located within the Krishna Godavari Basin on the Exploration Block KG-OSN-2001/3 located off the east coast of India. The drilling rig has been positioned and all services have been mobilized.

Saipem is currently conducting maintenance, repairs and testing to the rig. Upon completion, drilling operations are expected to commence. This well is the first of an initial four well exploration drilling program on the KG Block and GeoGlobal has a 5% net carried interest in this well.

The KG Block covers an area within the Krishna-Godavari Basin of approximately 1,850 square kilometers (457,000 acres) and is located off the east coast of India.

Gujarat State Petroleum Corporation is the operator and other partners are Jubilant Enpro Limited and GeoGlobal.

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