Oilex mobilizes workover rig to Cambay

May 2, 2017

India-focused energy company Oilex announced that the workover rig has been mobilized to the C-70 well in the Cambay production sharing contract (PSC) in Gujarat.

The company plans to complete workovers of two wells, C-70 and C-23z, during May 2017. The workovers are designed to test production flow rate potential from the OS-II reservoir in areas that Oilex anticipates to have remained not swept by earlier production.

While the expectations are for modest flow rates, a successful outcome will provide support for a field development plan in regards to the application to extend the term of the PSC to 2029 or the economic life of the field, whichever is earlier.  

The C-70 well has an established pipeline connection in place to the existing Cambay processing facility. A number of options to sell gas from the workovers are currently being evaluated.

As agreed with joint venture partner, GSPC, Oilex is to fully fund the workover expenditure and receive all revenue until these costs are recovered. Once costs are recovered, Oilex and GSPC will revert to their participating interests of revenue and expenditure.



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