Works are expected to commence in July 2022 on the Cambay C-77H well and will include coil tubing, nitrogen and perforation services.
Funds for the endeavour are to be raised in the following month.
Cost of the endeavor was not disclosed.
The company previously expressed plans to drill two hydraulically fractured horizontal wells in Q4 2022 and Q1 2023.
The Cambay gasfield field stopped producing in Q1 2019 due to a dispute in payment between operator Oilex and partner Gujarat State Petroleum Company.
A settlement was approved by the government in February 2022 that saw the Australian independent take its partners 55% shares in the play, giving Oilex full ownership of the PSC.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.