Financial Daily
from THE HINDU group of publications
Saturday, July 07, 2001
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Financial Daily from THE HINDU group of publications Saturday, July 07, 2001 |
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New gas block named Annapoorna
Our Delhi Bureau reports: The Union Petroleum Minister, Mr Ram Naik, has christened the new gas discovery made by Cairn Energy in the Krishna Godavari deepwater block as Annapurna. The well flowed gas at a combined stabilised rate of more than 2.3 millio
n standard cubic metres per day.
Addressing a press conference, Mr Naik said that contracts for the 23 blocks awarded under the New Exploration Licensing Policy II (NELP II) will be signed on July 17.
According to Cairn Energy officials, the company will be investing $300-$400 over the next four years in the Annapurna field. The initial estimate of dry gas in this field is in the range of 21 to 28 billion cubic metres.
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