Oilex completes oil and gas production facilities at Cambay-73 field in India

Oilex has completed the Cambay-73 oil and gas production facilities in Gujarat, India.

The company is expecting initial production of around 50 to 60 barrels of oil equivalent a day of gas and condensate.

 

Construction of the pipeline that will connect the facilities has now started, allowing commissioning to take place.

"Gas production will lead to increased cashflow from the Cambay Field and is significant step in our 2015 programme."

Oilex said the condensate will be separated at the field and will then be taken to a nearby refinery with the crude oil that will also be produced from the field.

 

The company is also assessing nearby legacy wells for a possible tie into the Cambay-73 facilities should it have excess capacity.

Oilex managing director Ron Miller said: "Gas production will lead to increased cashflow from the Cambay Field and is significant step in our 2015 programme.

 

"Oilex continues to deliver on its plan of production, cashflow and reserves to create a sustainable business in the midst of a robust market for petroleum energy."

In July 2005, Oilex entered into an agreement with the Cambay Field Joint Venture, comprising Gujarat State Petroleum Corporation and Niko Resources to acquire a 30% participating interest in the production sharing contract (PSC) covering the Cambay field.

Oilex acquired a further 15% equity interest from Niko and now holds a 45% participating interest in the Cambay PSC.

The company's principle assets are a near term production project in India and an early stage exploration project situated in the Canning Basin, North West Australia.

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