Arrow Receives Two Petroleum Exploration Licences in India

Source: www.gulfoilandgas.com 4/18/2008, Location: Asia

Arrow Energy announced that Arrow has been awarded Petroleum Exploration Licences (PEL) for two of the three CBM blocks awarded late 2006 during the last CBM III licence round. The two PEL’s awarded are for the Raj Mahal (RM) Block in the State of Jharkhand and for the Tatapani-Ramkola (TR) block in the State of Chhattisgarh. The first of two drilling rigs has been mobilised to the project area with drilling scheduled to start in the next couple of weeks.

The award of these licences follows an extensive process of environmental and stakeholder approvals at the Local, State and Federal level over a 16 month period. Arrow and its Joint Venture partners are the first consortium from the CBM III bidding groups, to have completed all of its environmental and legislative clearances, making these initial wells the first to be drilled from CBM III.

The Joint Venture partnership for these two blocks consists of Arrow (35% and operator), Gail (India) Ltd (35%), The Tata Power Company Ltd (15%) and EIG Energy Infrastructure Group AB (15%).

During the exploration phase each block will have a 13 well program of core and production wells. Two Australian companies (Mitchell Drilling and South West Pinnacle Drilling) have been awarded the drilling contracts. On site geological and laboratory services will be supplied by Eastern ACS Laboratories Pvt Ltd.

The RM and TR blocks both have an area of approximately 460 sq km each and a gas resource (estimated by the Director General of Hydrocarbons India) of 5,500 Billion cubic feet (BCF) and 1,900 BCF respectively.

With the Environmental Clearance already awarded, Arrow estimates that the PEL for the third block, Mand-Raigarh (MR) will be issued in the next 4 months. After completing the two core well programs on RM and TR blocks, both rigs will mobilize to MR block. It is estimated that the entire drilling program on the three blocks will take approximately 12 months in total.


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