27th Aug 2025 16:29
Synergia Energy Ltd - Perth-based oil and gas mining company - Says the Aakash 50T work over rig is due to be deployed to the Cambay C-64 wellsite by mid-September, to install the sucker rod pump at the joint venture site. Partner Selan Exploration Technology Ltd will also deploy a drilling rig contracted from Kiri Oilfield Services to drill a new well on the Cambay production sharing contract in October. The cost of the new well will be carried by Selan under the work programme between the two joint venture partners.
Back in February 2024, Synergia and Selan, a Gandhinagar, India-based mining firm, executed a farm-out agreement to set up a joint venture at Cambay. The Cambay Basin asset, in which Synergia has a 50% stake, is an onshore oil field located in India's Gujarati region.
Current stock price: 0.020 pence flat in London on Wednesday afternoon
12-month change: down 80%
By Emily Parsons, Alliance News reporter
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