Gulf Oil and Gas accountACCOUNT

Arrow Energy Awarded Two CBM Blocks in India

Source: www.gulfoilandgas.com 6/29/2010, Location: Asia

Arrow Energy Limited 90 percent owned subsidiary, Arrow Energy International Pte Ltd (“AEI”) and its partners, have been awarded two blocks in the Coal Bed Methane (“CBM”) IV bidding round in India by the Cabinet Committee on Economic Affairs (CCEA).

Arrow believes that the two blocks, Assam and Satpura have high CBM resource potential with good opportunity for early commercialisation in the event of successful exploration and pilot testing.

On the Assam Block, AEI (60% working interest) and Oil India (40% working interest) have proposed an aggressive program of exploration and development consisting of drilling 15 core holes and two production wells in two years under Phase-I, and 30 production wells in the following two years under the Phase-II pilot drilling program.

Commercial production is expected to start from 2014. The north eastern states of India have a significant and growing shortfall of gas supply and Oil India is therefore looking for additional gas resources from CBM.

On the Satpura Block, AEI (80% working interest), in conjunction with its partner Tata Power (20% working interest) plans to drill 15 core holes and two pilot wells in two years under the proposed Phase-I exploration program and 21 pilot wells during the Phase-II program. Arrow believes that it may be possible to combine Phase-II with an early commercial development project so that first gas may be produced as early as 2014 in the form of compressed natural gas (“CNG”) for supply to local cities and industries.

Arrow’s partner, Tata Power, has plans to build a substantial gas-fired power plant in the area utilising CBM gas production from the block in the event that exploration and appraisal prove successful.

AEI Chief Executive Officer Simon Potter welcomed the award of the blocks.

“These blocks are highly prospective and are well located in the energy hungry Indian market. The upcoming work on the blocks will allow us to further build on our existing reputation and excellent relationships in the country. We particularly look forward to working with Oil India and Tata Power who have excellent local track records and who will be able to provide us with much assistance and technical support,” Mr Potter said.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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