Mercator Petroleum (MPL), a Mercator Group Company, has commenced drilling in the Seventh exploratory well on December 6, 2017. The drilling is expected to be completed by March’18. During the ongoing campaign, testing of already drilled wells is also planned which may open additional areas for exploration.
Earlier, the Independent Third Party Resource Certification for wells Jyoti 1 & 2 has given a 2P EUR (expected ultimate recovery with water injection) of 26.2 Million barrels of Oil in the discovery area. MPL had earlier submitted a field development plan, to the Directorate General of Hydrocarbons (DHG), for an estimated reserves of 23 million barrel of recoverable Oil.
Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
Company Name | CMP |
---|---|
Shipping Corpn. | 246.90 |
GE Shipping | 1172.50 |
Dredging Corp | 1027.80 |
Shreyas Shipping | 321.60 |
Seamec | 1075.30 |
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