GSPC steps up KG basin hunt
Gujarat State Petroleum Corporation (GSPC) is looking to increase its activities in the Krishna Godavari basin by acquiring its second rig Atwood Beacon. Six more exploration wells will be drilled at the Krishna Godavari basin block, KG-OSN-2001/3, next year. The third rig will join the project in July 2007. A three-month delay in delivering Atwood Beacon led to cost overruns of up to $100,000 per day.
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