Breaking News

You are here » Indian-Commodity  :  Top News  :  Mercator's arm in talks with DGH on Field Development Plan for wells

17-Nov2017

Mercator's arm in talks with DGH on Field Development Plan for wells

Mercator Petroleum (MPL), a wholly-owned subsidiary of Mercator has initiated the preliminary technical discussion with Director General of Hydrocarbons (DGH) on the Field Development Plan for wells Jyoti 1 and 2. The Field Development Plan, submitted on 3 November 2017, was for an area of 24 sq km (out of 130sq km) and for an estimated reserves of 23 million barrel of recoverable Oil.

The company has completed drilling in additional 5 wells and will be commencing the drilling process in the 8th well from December 2017. The production testing of the next 3 wells is planned during Q4FY18 and the company is on track for commercial production by first half of CY18.

Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.


Related News

View all news

Crude oil futures end near 2-month high on Friday

Crude oil futures ended near 2-monht high on Friday, supported by  a report from the Organization of the Petroleum Exporting Countries (OPEC) members that showed the biggest monthly drop in crude......

Gold futures end lower on Thursday

Gold futures retreated from 2-week high on Thursday, with firmer dollar and on reports of better than expected US job weekly data. Moreover, increased risk appetite among investors with positive trend......

Copper futures end higher on China stimulus measures

Copper futures ended higher on Thursday as China's move to inject liquidity into the financial system boosted expectations of higher demand in the world's top industrial metals consumer. The People's Bank......

Top News

View all news

Spicejet's cargo arm launches freighter services on Guwahati-Hong Kong route

Spicejet's cargo arm SpiceXpress has launched dedicated freighter services between Guwahati and Hong Kong with a weekly flight, starting January 19, 2019. With this launch, SpiceXpress will be the first......

Reliance Industries to invest Rs 3 lakh crore in Gujarat in next 10 years

Reliance Industries has committed to invest Rs 3 lakh crore in various projects in the next 10 years in Gujarat that may range from energy and petrochemical to new technology and digital business. The......

Wipro reports 32% rise in Q3 consolidated net profit

Wipro has reported results for third quarter ended December 31, 2018. The company has reported a rise of 39.56% in its net profit at Rs 2,518.40 crore for the quarter under review as compared to Rs 1,804.50......