Partners agree to pull out of K-G license offshore India

Offshore staff

LONDON – Hardy Oil and Gas has agreed to relinquish exploration license KG-DWN-2001/1 (D9) in the Krishna Godavari basin off eastern India.

Operator Reliance Industries proposed the move after integrating all geo-scientific data and results of the three exploration wells, including the KG-D9-A2 gas discovery. Reliance felt that the block’s hydrocarbon potential was low and further exploration or appraisal was unwarranted. Hardy has a 10% interest in the D9 block.

The company’s now plans to focus on the D3 exploration license in the same basin, where it is a partner to Reliance and BP.

4/25/2012

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