NEW DELHI(PTI): The first contract under the fourth round of bidding was signed Feb.19 between the government of India, oil and natural gas commission and a consortium comprising five companies of the United States, Australia and India for exploration of oil and gas in the Krishna Godavari offshore covering an area of 4,367 sq. km.
With the signing of this contract, exploration operations under the fourth round would get under way with Commencement of exploration work in the Krishna Godavari Offshore block.
‘The consortium is to carry out Seismic data acquisition during the first phase of exploration.
Subsequently, based on the results of their Seismic work, if the consortium proceeds to the next phase of exploration of two years, it would carry out drilling of one exploratory well in the block.
Blocks in the Bombay offshore, Rajasthan Onshore and Pranhita Godavan onshore basins are also being considered.
Article extracted from this publication >> February 26, 1993
