Source Pravda.Ru

Eastern Coast Indian Exploration Blocks

A unit of BG Group PLC announced its wish of joint venture with Indian companies including the stat-owned Oil & Natural Gas Corp., Gas Authority of India Ltd., the privately owned Hindustan Oil Exploration Co. This step will be helpful in developing deepwater oil and gas blocks.This suggestion wasn’t unexpected, preliminary negotiations were held long before during the 1st and 2nd rounds which began in 1999.Under the last round 27 fields along the eastern coast will be developed. This process can last up to 10 years. In 2001, BG India had an exploration success ratio of 71%, concluding operations on 14 exploratory and appraisal wells, 10 of which were successful.

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