Antelopus hopes for D31 with Selan onboard
We've been here before.
But this time, Gurgaon-based Antelopus Energy's plan to finally begin its long-delayed campaign to drill one development well at the MB/OSDSF/D31/2018 cluster looks more concrete. That's because it has the financial muscle of Selan Exploration, as the merger of the two companies is "nearly done."
A well-placed source tells us Antelopus is tendering separately for a rig and oilfield services for a one-development well campaign at the D-12 gasfield within the D31 cluster of five marginal fields in water depths of 90 metres to approximately 1500 metres TD, between 110-250-km offshore Mumbai. "Antelopus’ target is to award the tenders in June-July (2025) so drilling can begin in the upcoming western offshore fair-weather window (October 2025 to May 2026)," says our source.
Included in the estimated $25-$30m campaign cost is a one-wellhead "conductor supporting platform’ at this development well, an offshore oil and gas platform whose topside deck is supported by large diameter pipes called "conductors" instead of a traditional jacket. This design is often used in shallow waters and is considered cost-effective for early production or marginal field development because of its simple construction.
Antelopus plans to transport the gas from its planned development well through a 20-km pipeline to a process platform at either ONGC’s Cluster 7 or Cluster 8 fields and from there through ONGC’s pipeline to the Uran landfall point outside Mumbai. "Once the well begins producing as expected, it will likely yield around 30m cubic feet/day (1m cm/d)," we hear.
Any condensate will be stored in a Mobile Offshore Processing Unit (MOPU) or FPSO for onward transfer. Antelopus will sell gas at "LNG-driven pricing" because it has pricing and marketing freedom under the RSC for this DSF-2 field, signed in March 2019.
Antelopus will finance the Phase-I development drilling programme from "internal revenue sources" and a second development well in Phase-II through debt or "resource-based lending" (lending against anticipated production as collateral).