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ONGC cool to Gazprom's offer in Orissa block

Oil & Gas Journal

Another major factor in the way of ONGC joining the block was lack of time for completion of the work program. Having signed the production-sharing contract in October 2000, Gazprom is said to be attempting to push back the end of the scheduled period for completion of activities in the block.

Apart from challenging work conditions and a narrow weather window, the drilling results in both the NEC-OSN-97/1 and WB-OSN-2000/1 blocks were primarily identical.

While it is not yet known if Gazprom will relinquish the block, sources say the Russian company is yet to initiate any campaign for drilling on further locations in the exploration asset.