News Regions Hardcopy Market Data Careers Web- tv Events Subscribe Focus About Upstream Advertise

India's regulator cuts K-G estimates

India’s Directorate General of Hydrocarbons (DGH) has scaled down the estimates of gas discoveries claimed by the Gujarat State Petroleum Corporation (GSPC) and state-owned Oil & Natural Gas Corporation, Indian media reported today.

The regulator’s decision is a blow to the future plans of the two companies and to India’s chances of becoming a gas-surplus nation by 2010, the Economic Times newspaper said.

The DGH said ONGC’s recent find at Block UD-1 in the Krishna-Godavari basin contains only 2.09 trillion cubic feet of gas, compared to 20 Tcc claimed by ONC.

Similarly, GSPC’s reserves at Block KG-OSN-2001/3 in the same basin were put at 1.8 Tcf of gas, against GSPC’s claim of 20 Tcf.

Both ONGC and GSPC are betting heavily on the discoveries for future growth.

The drastic downward revision could also impact the petroleum ministry’s vision of making India gas surplus by 2009-2010.

“If DGH’s report is to be believed, this shortfall will lead to increase in gas pricing in the country. Besides, it’s a big setback for ONGC and GSPC,” the newspaper quoted an analysts as saying.

”Almost all international players were in race to pick up stake in these blocks.”

e-mail this to a friend

e-mail this to a friend

FREE Daily newsletter print
most popular
search
subscriber login
recruitment

Senior Level Exploration Staff

Our client is looking for highly motivated and highly skilled E&P professionals who can assist with increasing its export production capacity from 2.5 million bopd to...

Petro Staff

Contracts Engineer ( Drilling and Construction)

Incumbent will have high involvement with other divisions, vendors and other customers to ensure compliance with standards and regulations. Changes to services, procedures...

Sheffield Offshore

Senior Level Exploration Staff

Our client is looking for highly motivated and highly skilled E&P professionals who can assist with increasing its export production capacity from 2.5 million bopd to...

Petro Staff

Instrumentation & Control Engineer

OMV Exploration & Production

Operations Readiness Coordinator (f/m)

OMV Exploration & Production

HSE Specialists (Drilling)

Sheffield Offshore

Operations Manager

Roc Oil Company

Lead Planning Engineer

Mentor IMC Group

Technical Manager

Sheffield Offshore

Senior Cost Engineer

Mentor IMC Group

Lead Process Engineer

Sheffield Offshore

Production Technologist

Roc Oil Company

Drilling Contracts Engineer

Sheffield Offshore

Schedule Engineer

Orion Group

Drilling Completions Engineer

Sheffield Offshore

click here for all positions
news from other nhst publications