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AHMEDABAD, March 17

THE revised gas reserves at the Hazira fields have been set at 8.5 billion cubic metres. This signals a 6 billion cu. m rise from the earlier established reserve position of the field at 2.5 billion cu. m, putting Hazira among some of the large gas fields in the country.

With this, the Gujarat State Petroleum Corporation (GSPC) and its operating partner at the Hazira gas fields, Niko Resources, Canada, have agreed to bury their differences pertaining to the gas reserves at Hazira, at least for the time being. The deal was struck between the two partners in the presence of Dr Avinash Chandra, Director General, Department of Hydrocarbons, and Mr G. Subbarao, Chief Secretary of the Gujarat Government.

The compromise formula was thrashed out by the Dallas office of Degolyer & McNaughton (D&M), the firm that carried out detailed studies of the Hazira fields. At the same time, this is 50 per cent lower than a 12-billion cu. m additional gas reserve indicated by studies carried out by a Canadian firm, at the behest of Niko.

Mr D.J. Pandian, Managing Director of GSPC, told the media here that both the parties had agreed to drill an appraisal well at an offshore location before the onset of the monsoons this year leading to the finalisation of the Hazira field development plan. Mr R.N. Ohlson, President of Niko Resources, also attended the meeting.

While this will cost Rs 25 crore, the GSPC-Niko combine would go in for the installation of an offshore platform in Hazira at an estimated cost of Rs 250 crore. The project is set to commence immediately after the monsoons.

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Hazira gas reserves revised upwards by 6 b cu. m

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