10th Apr 2014 08:23
10th April 2014
Jubilant Energy NV
("Jubilant" or "the Company")
Declaration of Commerciality of Kathalchari Discovery in Tripura Block (AA-ONN-2002/1)
Jubilant is pleased to declare commerciality of Kathalchari Discovery in Tripura Block. Jubilant Oil and Gas Private Limited ("JOGPL"), the Operator of the block, had submitted a declaration of commerciality of Kathalchari Discovery, to the Management Committee ("MC") on 28th December 2012, for its review with following parameters-
(a) Gas Initially in Place | : | 1,078 BCF (Best estimate) (High estimate 3,401 BCF and Low estimate 354 BCF) |
a) Contingent Recoverable Resources | : | 128.6 BCF |
b) Development Wells | : | 9 wells |
c) Production Facilities | : | Early Production Facilities including Gas Gathering Station, Separators, Pipelines, Flow-lines and Manifolds etc |
The proposal for Declaration of Commerciality ("DOC") of Kathalchari Discovery has been reviewed by MC with the following parameters-
a) Gas Initially In Place | : | 1,211.69 BCF (Best estimate) |
b) Contingent Recoverable Resources | : | 71.02 BCF |
c) Development Wells | : | 9 wells |
d) Production Facilities | : | Early Production Facilities including Gas Gathering Station, Separators, Pipelines, Flow-lines and Manifolds etc |
The Contingent Recoverable Resources reviewed by MC are based on Lowest Known Gas for the Middle Bhuban pay around the Kathalchari-1 discovery, as opposed to being based on the maximum area as originally proposed in DOC. The consortium will now submit a Field Development Plan by 12th January 2015 in accordance with the PSC provisions.
Jubilant holds 20% participating interest in this block through its subsidiary Jubilant Oil & Gas Private Limited, India, which is also the operator of the block. GAIL India Limited holds the remaining 80% participating interest.
Enquiries: Jubilant Energy |
Vipul Agarwal |
+91 120 4025700 |
Panmure Gordon | Katherine Roe,Callum Stewart, Adam James | +44 20 7459 3600 |
Competent Person's - Consent for Release
Mr Ramesh Bhatia - Chief Operating Officer; holds a Master's of Science degree in Applied Petroleum Geology and has over 20 years of experience in the Oil and Gas Exploration, Development and Production industry. He has reviewed and approved the technical information contained in this announcement pursuant to the AIM guidance note for mining and oil and gas companies.
Notes and Glossary of abbreviations
The above resource figures have been estimated using the Petroleum Resources Management System published by the Society of Petroleum Engineers/ World Petroleum Council American Association of Petroleum Geologists/ Society of Petroleum Evaluation Engineers (SPE/WPC/AAPG/SPEE) in March 2007 ("SPEPRMS").
BCF | Billion Cubic Feet |
Contingent Recoverable Resources | are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. Low/Best/High Estimates represent the reasonable range of estimated potentially recoverable volumes at varying degrees of uncertainty. |
DOC | Declaration of Commerciality |
GCA | Gaffney Cline & Associates |
GIIP | Gas Initially in Place |
JOGPL | Jubilant Oil & Gas Private Limited |
MC | Management Committee, the members of which comprise representatives from the Directorate General of Hydrocarbons, the Ministry of Petroleum & Natural Gas, JOGPL and GAIL India Limited |
PSC | Production Sharing Contract |
Related Shares:
JUB.L