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US oil services consortium for new India blocks – Vedanta Chairman

Gasoil News - Published on Wed, 05 Dec 2018

Image Source: Moneycontrol
Reuters cited Vedanta chairman Mr Anil Agarwal as saying that India's Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit. Mr Anil Agarwal and Cairn Chief Executive Sudhir Mathur met with executives from 70 services companies this week in Houston to encourage the firms to organise consortia to compete for contracts. He said that "They're very encouraged by the 41 blocks and they're looking to work together."

Mr Mathur said that the company won 41 of the 55 blocks auctioned under India's first licensing round for small discovered fields earlier this year. It expects the blocks will eventually produce 500,000 barrels per day of oil equivalent. He said that some of the acquired blocks are near existing Cairn fields and could be producing as early as 12 months to 18 months after contracts are awarded.

He added that Vedanta hopes to receive offers from companies including Schlumberger NV, Halliburton Co and General Electric's Baker Hughes by the first quarter of next year.

Source :

Posted By : Joykumar Irom on Wed, 05 Dec 2018
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