We have been trying to catch up with Roland for a while as he is not one for talking for the sake of it. The first question refers to the RNS released on the 16th March 2022, update to its operations in India and in particular, with respect to the Cambay field development.
The Gujarat Pollution Control Board (GPCB) is expected to approve the re-commencement of production on the Cambay field imminently. All necessary operational preparation, including system integrity checks and safety system validations, has been undertaken to allow for an immediate re-start of gas production from two wells (C-73 and C-77H) upon receipt of GPCB approval.
Here is the list of the questions asked in the interview;
- What is the status of the production re-start of the Cambay field and why the delays?
- Is the Cambay field ready to re-start production when the final permit is obtained?
- What is the current schedule for the C-77H re-frac operation? Again, why has this been delayed?
- Do Oilex plan to farm out the Cambay field and to what extent?
- What is the status of the CCS project in the UK?
India is the third-largest energy market in the world. Indian gas demand growth is outpacing domestic supply with circa 50% of gas requirements from LNG imports. Robust gas prices are underpinned by the high marginal cost of LNG imports.
Oilex’s Chief Executive Officer, Roland Wessel, said:
“After a protracted hiatus, we are very pleased that gas and condensate production on the Cambay field is due to resume in the near future, thanks mainly due to the efforts of Oilex’s India team. In addition, the Bedrock / Manan project management team are working assiduously to execute the C-77H re-frac as early as possible without compromising the technical approach to this key field development operation.
My recent visit to the Oilex Baroda office and to the Cambay field demonstrated that Oilex has a professional and motivated team in India fully capable of developing and operating the Company’s key Cambay asset. I look forward to updating investors as we make further progress.”
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