Reliance consortium spuds well offshore India

Reliance Industries Ltd. and partners spudded exploratory well GS01-B1 in 79 m (259 ft) water depth in block GS-OSN-2000/1 off the west coast of India. The Actinia semisubmersible rig is expected to continue working on the block into 2Q 2007.

Offshore staff

MUMBAI, India -- Reliance Industries Ltd. and partners spudded exploratory well GS01-B1 in 79 m (259 ft) water depth in block GS-OSN-2000/1 off the west coast of India. The Actinia semisubmersible rig is expected to continue working on the block into 2Q 2007.

The well has a targeted TD of 3,656 m (11,995 ft). It will explore carbonates of Middle Miocene, Lower Miocene, Upper Oligocene, Eocene Bassein Limestone, and the Panna Formation.

The well is 240 km (149 mi) northwest of Mumbai.

This is the second exploratory well in the block after A1 well was drilled in 2006. The A1 well had significant hydrocarbon shows, but could not be tested because of mechanical problems.

Reliance operates the GS-OSN-2000/1 block with 90% interest. Hardy Oil and Gas holds the remaining 10% interest.

3/6/2007

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