A step-down subsidiary of Mercator Limited, Mercator Petroleum Limited (MPL), Operator and 100% Participating Interest holder in block CB-ONN-2005/9 is pleased to announce that the Director General of Hydrocarbons (DGH) has reviewed its discoveries from its first two wells, Jyoti #1 & Jyoti #2, in Bharuch Area of Gujarat and concur with the operator that the discoveries are commercially viable.
MPL has commenced preparation of a detailed Field Development Plan (FDP) and will be submitting it to the DGH soon. MPL aims to start production from the wells once FDP is approved by DGH and all the statutory clearances are obtained.
DGH has also allowed MPL to conduct extended well test on one of the wells for around a month. During testing, MPL will be allowed to produce and sell the oil from the well as per the PSC guidelines.
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