Today's Top Gainer
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For FY14, the company targets to produce 3.95mn tons of crude oil and 2,740scm of natural gas.
Block in Mizoram which was allocated in NELP VI – pre-drilling activities has been completed and 5 locations for drilling of wells have been indicated. Contracts for drilling will be awarded in the near future.
KG Basin block awarded in NELP VI – pre-drilling activities are in progress and the company has indicated six locations for drilling of wells. MWP commitment is for 12 wells and the first well is expected to be drilled shortly.
Gulf of Mannar Cauvery Basin block awarded in NELP VII round – data processing activities are progressing well.
The company expects to see robust growth in gas production over the next couple of years.
Current cost of gas production is US$3.06/mmbtu and the company estimates PAT increase of Rs2.2bn for every US$1/mmbtu increase in gas prices.
Law and order situation in Assam is improving and the company expects a turnaround in production in the next year.