Mercator’s subsidiary - Mercator Petroleum (MPL) has commenced drilling of new exploratory well Jyoti-5 in its Exploration Block CB-ONN-2005/9 in Cambay Basin, Gujarat.
The Block was awarded to MPL in December 2008 during NELP - VII bidding by Government of India with 100% participating interest. As a part of Minimum Work Program, MPL has already drilled four wells in the Block wherein oil discovery was made in the first two wells namely Jyoti-1 & 2. Jyoti-3 & 4 are yet to be tested. The current drilling campaign will complete the remaining Minimum Work Program in the coming few months.
Mercator is Mumbai based International organization. As a group, Mercator has diversified business interests in Coal, Oil & Gas, Commodity Transportation and Dredging.
