Strong gas potential in Krishna Godavari blocks

Hardy Oil and Gas has upgraded the resource potential in its D3 and D9 offshore exploration blocks in India's Krishna Godavari basin.

Offshore staff

LONDON --Hardy Oil and Gas has upgraded the resource potential in its D3 and D9 offshore exploration blocks in India's Krishna Godavari basin.

The technical evaluation, compiled by Gaffney, Cline & Associates (GCA), incorporates data from two gas discoveries in D3 – Dhirubhai 39 and 41 – and geological and geophysical studies.

The latter includes over 2,000 sq km (772 sq mi) of new 3D seismic over D3, and pre-stacked time migration 3D data processing and a constrained source electro magnetism survey (CSEM) on D9.

As well as validating prospects identified by the joint venture partners, GCA applied a play-based exploration methodology on D3 to estimate the "yet-to-find" resource potential.

It computed gross risked best estimate resources on D3 at 9.5 tcf, comprising identified prospects and leads and postulated prospects based on the play area and field size distribution. The corresponding estimate for D9 is 10.8 tcf and 143 MMbbl.

Block D9 (KG-DWN-2001/1) is east of Reliance Industries' producing oil and gas fields on block KG-DWN-98/3, which are projected to double India's domestic gas production capacity by the end of this year.

Block D3 (KG-DWN-2003/1) is west of this concession. Hardy holds 10% interests in both blocks, where Pleistocene and Pliocene plays are proven. However, the Miocene plays are thought to have the best undiscovered resource potential.

05/27/2009

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