Oil & Gas

Amguri Block is located in Assam and covers 52.75 Sq.Km. This block is a Developed Block and has potential of 2P recoverable resources as per report of Sproule dated October 28, 2007 and as mentioned in this report. Sproule is an internationally recognized and specialized body engaged in making resource/reserve assessment in Exploratory and Developed fields. Its certification on resource / reserve in Exploratory and Developed fields is internationally accepted.

Sproule has submitted its Reserve Assessment Report as of March, 2008 pertaining to the wells already drilled and assigning few more new wells in the same zone. The report has indicated 2P reserve of oil condensate and gas at 10.547 million Boe which indicates significant upside in reserve potential. However, this reserve figure does not cover the entire field of Amguri.

CRL and ACL consortium after completion of current Appraisal Wells drilling programme will submit a Comprehensive Development Plan for the Amguri Block as a whole to DGH. About 12 wells including 2 Tipam Wells and 2 Work Over Wells have been planned during 2008-09.In order to achieve this ambitious target, the consortium is deploying two Rigs.

The quality of the crude oil being produced from this Block is superior to “Bonny Light” crude which is the identified benchmark evaluation for Indian crude oil for international price and has been certified by Indian Oil Corporation. The consortium gets premium US$ 4-5 per bbl over Bonny Light Crude due to its superior quality.