Page 1 of 2 Adani-Welspun drills for hydrocarbon at Palej 6/17/2010 ...
Page 1 of 2 Adani-Welspun drills for hydrocarbon at Palej 6/17/2010 ...
Page 1 of 2 Adani-Welspun drills for hydrocarbon at Palej 6/17/2010 ...
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<strong>Adani</strong>-<strong>Welspun</strong> <strong>drills</strong> <strong>for</strong> <strong>hydrocarbon</strong> <strong>at</strong> <strong>Palej</strong><strong>Page</strong> 1 <strong>of</strong> 2Thursday, Jun <strong>17</strong>, <strong>2010</strong>Welcome, GuestLoginLogin| RegisterAdvanced SearchFeedback | RSSContent GuideFollow us onHome | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion| Life & Leisure | Mgmt & Mktg | Tech World| BS ProductsSection Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Fe<strong>at</strong>ures | The Compass | Research & Analysis | Opinion | Corpor<strong>at</strong>e ResultsHome > Companies & IndustryLive Markets | Smart Portfolios II | CommoditiesSearch: Text or company name KeywordGo<strong>Adani</strong>-<strong>Welspun</strong> <strong>drills</strong> <strong>for</strong> <strong>hydrocarbon</strong> <strong>at</strong> <strong>Palej</strong>BS Reporter / Mumbai/ Ahmedabad June <strong>17</strong>, <strong>2010</strong>, 0:23 ISTAWEL gets PI in two <strong>of</strong>fshore blocks in Kutch.<strong>Adani</strong> <strong>Welspun</strong> Explor<strong>at</strong>ion Limited (AWEL), a 65:35 joint venture between <strong>Adani</strong> Enterprises and <strong>Welspun</strong> N<strong>at</strong>uralResources Pvt Ltd, has begun drilling on an explor<strong>at</strong>ory in basis in the <strong>Palej</strong> block in Gujar<strong>at</strong>.This drilling campaign further strenghtens <strong>Adani</strong> and <strong>Welspun</strong> groups commitmentto oil and gas explor<strong>at</strong>ion businesses, according to a media st<strong>at</strong>ement by <strong>Adani</strong>group on Wednesday.<strong>Adani</strong> st<strong>at</strong>ed th<strong>at</strong> it had also been awarded two <strong>of</strong>fshore explor<strong>at</strong>ion blocks in Kutchbasin with 20% and 30% particip<strong>at</strong>ing interests (PI). The production sharingcontracts <strong>for</strong> these blocks, oper<strong>at</strong>ed oper<strong>at</strong>ed by a consortium <strong>of</strong> ONGC, GSPCand Indian Oil Corpor<strong>at</strong>ion (IOC), are yet to be signed.The block CB-ONN-2004/05, which was awarded to the company under NELP-VIround <strong>of</strong> bidding is close to many producing fields, it said. The block lies in theCambay basin where independent India's first <strong>hydrocarbon</strong> discovery was made <strong>at</strong>Lunej by Oil and N<strong>at</strong>ural Gas Corpor<strong>at</strong>on (ONGC).Reliance Industries (RIL) recently announced th<strong>at</strong> it had made its sixth <strong>hydrocarbon</strong>discovery in the 635 sq-km block loc<strong>at</strong>ed in the Cambay basin, about 130 km fromAhmedabad.AWEL has completed seismic d<strong>at</strong>a acquisition, its processing and interpret<strong>at</strong>ion <strong>of</strong>the the block, the company said in a press release. Though the reserves <strong>of</strong> CB-ONN-2004/05 are not known, more than 90 oil & gas fields have been discovered,<strong>of</strong> which two namely, Ankleshwar and Gandhar are giant fields, according toAWEL's <strong>of</strong>ficial website. Established in-place <strong>hydrocarbon</strong>s are more than 1,314million tonnes, the site st<strong>at</strong>es.AWEL has roped in Dubai's Black Pearl Services <strong>for</strong> carrying out the drillingoper<strong>at</strong>ion in the block, sources privy to the development told Business Standard.The nearby producing fields <strong>at</strong> <strong>Palej</strong> includes Dabka, M<strong>at</strong>ar, Gajera, Gandhar,Ankleshwar and Padra oper<strong>at</strong>ed by Oil and N<strong>at</strong>ural Gas Corpor<strong>at</strong>ion (ONGC) andPramoda oper<strong>at</strong>ed by Hindustan Oil Explor<strong>at</strong>ion Company (HOEC), the releasest<strong>at</strong>ed. AWEL has 90 per cent particip<strong>at</strong>ing interest in <strong>Palej</strong> and Assam blocksthrough its group companies, 100 per cent interest in a Mumbai <strong>of</strong>fshore block andtwo blocks in Thailand.In addition, AWEL has particip<strong>at</strong>ing interest in one <strong>of</strong>fshore explor<strong>at</strong>ion block inEgypt in consortium with Gujar<strong>at</strong> St<strong>at</strong>e Petroleum Corpor<strong>at</strong>ion (GSPC) whereinAWEL has 40 per cent non-particip<strong>at</strong>ing interest.Other Stories- Sensex fl<strong>at</strong> in early trades- Reliance eyes 26% stake in Fortis- Oil below $78 on pr<strong>of</strong>it-taking, weaker stocks- Nikkei lower after 5-day gains, support seen holding- Wall St ends fl<strong>at</strong> on mixed economic d<strong>at</strong>a, FedEx dragsClick here to visit SME BuzzOpenings in OracleExp: 1 to 13 Yrs.Sal: 5L to 15LPA Apply Now & get MultipleInterviewsTimesJobs.com/OracleOracle Exam Prep Rs 4490Expert Authored Oracle CoursesOnline. Try Demo Now!NIIT.Training.com/Oracle+CoursesAlso ReadNewsRel<strong>at</strong>ed StoriesNow- <strong>Adani</strong> Enterprises net up 104%- <strong>Adani</strong> Enterprises Q4 net pr<strong>of</strong>itup by 104%- <strong>Adani</strong> Enterprises Q4 pr<strong>of</strong>itdoubles to Rs 340 cr- REC, <strong>Adani</strong> and Piramal includedin MSCI India Index- Guj HC allows <strong>Adani</strong> to leaveAhmedabad to appear be<strong>for</strong>eCBI- <strong>Adani</strong> Enterprises founder raisesstake to 51%MoreMost PopularRead E-Mailed CommentedMukesh Ambani eyes energy source to-power UMPPs- Maran open to SpiceJet's name change- Arms spending: India grows as west shrinks- Tax code blow <strong>for</strong> India Inc to s<strong>of</strong>ten- All bank FDs may come under tax netMoreTags : <strong>Adani</strong> <strong>Welspun</strong> Explor<strong>at</strong>ion | <strong>Adani</strong> Enterprises | <strong>Welspun</strong> N<strong>at</strong>ural Resources | ONGC | IOC | RelianceIndustriesRead Business news inAdvertisementsFind an ATM wherever you are.Get a world view every week - know moreSave business money with Original HP Toner CartridgesMaking conncections worldside.One partnership, endless possibilitiesBlackBerry® Smartphones starting @ Rs. 14,990/-*Find the right solutions and become a smarter medium-sized businessReduce cost and increase pr<strong>of</strong>itability.. know moreOvercome IT challenges & exceed business expect<strong>at</strong>ions with a simple clickGiftwithLove.com: Flowers/ Cake/Gift: Same Day Delivery in IndiaClick here to visit Business Standard SME BuzzBS PollCast Your VoteWill RBI hike key r<strong>at</strong>es to containinfl<strong>at</strong>ion?Yes NoAds by Google Oracle Trigger in Oracle Oracle SQL Scripts Oracle Q and Ahttp://www.business-standard.com/india/news/adani-welspun-<strong>drills</strong>-<strong>for</strong>-<strong>hydrocarbon</strong>-<strong>at</strong>...6/<strong>17</strong>/<strong>2010</strong>
<strong>Adani</strong>-<strong>Welspun</strong> <strong>drills</strong> <strong>for</strong> <strong>hydrocarbon</strong> <strong>at</strong> <strong>Palej</strong>http://www.business-standard.com/india/news/adani-welspun-<strong>drills</strong>-<strong>for</strong>-<strong>hydrocarbon</strong>-<strong>at</strong>...<strong>Page</strong> 2 <strong>of</strong> 26/<strong>17</strong>/<strong>2010</strong>Oracle BI EE TrainingOCA Exam Prep <strong>at</strong> Rs 4490Expert provider <strong>of</strong> Oracle BI EE Technical and Expert Authored OCA Online Courses fromEnd User TrainingOracle. Try Free Demo Now!Share this StoryPrint this Email this Add to favorites Twitter Google Buzzdel.icio.us digg newsVine Reddit FacebookDiscussion Board / User Comments ( 0)Display NamePost your commentEmail-IdYour page is blocked due to a securitypolicy th<strong>at</strong> prohibits access to C<strong>at</strong>egoryPersonals & D<strong>at</strong>ing . For any internetrel<strong>at</strong>ed qeuries kindly Email to IT SecuritySupport team <strong>at</strong>itsecuritysupport@welspun.comOracle init.ora ParameterSpecial Tool <strong>for</strong> Oracle init.ora learn DBSecrets & Parameter ProHot SearchesBhopal | Union Carbide | KeshubMahindra | iPhone | FIFA | BP |Reliance Industries | 3G | SEBI |IRDA | ULIP | iPad | IPL | BSNL |Budget <strong>2010</strong>| Railway Budget | Auto Sales| Small Car | BSE | NSE | AmitabhBachchan | Mukesh Ambani | AnilAmbani | Bollywood | TCS | Infosys |Pranab Mukherjee | Maruti Suzuki |Sonia Gandhi | Congress | RahulGandhi | New Pension Scheme | Servicetax | Excise duty | Notebook |Reliance | RBI | GDP | Gold | R<strong>at</strong>anT<strong>at</strong>a | ICICI | B-School | Sensex | Taxcalcul<strong>at</strong>or | Home Loan | PersonalFinance | infl<strong>at</strong>ion | oil prices | BarackObama |Member Area Write to the Editor RSS Archives Advanced SearchSubscribe to BS print product BS e-paper Newsletter Portfolio TrackerBS Products BS Hindi BS MotoringFOR HOT PRODUCTSBS Bazaar.comHome | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | OpinionLife & Leisure | Management & Marketing | Tech WorldAbout Us | Partner With Us | Code <strong>of</strong> Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Site Map | Contact Us | Feedback
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