Hardy Oil to Begin Exploration Program Offshore India

Hardy Oil & Gas reports that the Deep Driller 1 is in place and preparing to begin its two well drilling program. The first exploration well is expected to commence drilling in the first two weeks of July.

Once the drilling program at CY-OS/2 is completed, the Deep Driller 1 jackup rig is expected to transfer to Block GS-OSN-2000/1 ("GS-O1") in the Saurashtra Basin to commence its drilling program in that area in the fourth quarter of 2006. Hardy has a 10% working interest in GS-01.

Hardy has previously announced that the Block KG-DWN-2001 ("D9") drilling program in the Krishna Godavari Basin was expected to commence by the fourth quarter of 2006. Reliance Industries Ltd, the operator under the PSC, has notified Hardy, that the commencement of this drilling program is expected in the first quarter of 2007. This is due to third party delays of the rig that were longer than originally scheduled.

With regard to the developments in D9, the Board of Hardy note the statement made by Reliance at its recent AGM, which stated "recently (Reliance) has had a crude oil discovery in the MA1 deep water D6 Block. Testing has been done in two zones located three kilometers below sea level. More than size, this discovery signifies a large geological play that could result in future discoveries".

Block D9, in which Hardy has a 10% working interest, is adjacent to D6. Both Blocks are in the Krishna Godavari basin.

Hardy's management and staff continue to remain focused on the successful execution of the Company's exploration program. The second half of 2006 will continue to be an exciting and challenging time for the organization".

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Fluids Specialist
Expertise: Drilling Foreman / Drilling Supervisor
Location: Beeville
Drilling Supervisor - Land
Expertise: Company Man|Drilling Consultant|Drilling Foreman / Drilling Supervisor
Location: Opportunities Throughout the Lower 48
Completions Supervisor
Expertise: Company Man|WellSite Supervisor|Workover or Completion
Location: Richmond, TX
search for more jobs

Brent Crude Oil : $49.71/BBL 1.50%
Light Crude Oil : $48.7/BBL 2.05%
Natural Gas : $3.11/MMBtu 12.68%
Updated in last 24 hours