Sydney (Platts)--23Nov2012/229 am EST/729 GMT
India's Bharat Petroleum Corporation Limited will study plans to develop the Arrowsmith 2 shale well in Western Australia for the domestic gas market and potentially for export to India, operator Norwest Energy said Thursday. BPCL subsidiary Bharat PetroResources Limited has a 27.803% interest in the Arrowsmith joint venture. Norwest holds 27.945% of the project, and another Australian junior, AWE Limited, owns the remaining 44.252%. BPCL Chairman R.K. Singh has just spent three days reviewing the Arrowsmith project, Norwest said. As part of the review, the Indian state-owned company and Norwest studied the Western Australian gas market and pricing, as well as the process required to build a pipeline from Arrowsmith to the nearby existing pipeline infrastructure.Article continues below...Request a free trial of: Oilgram NewsOilgram News brings fast-breaking global petroleum and gas news to your desktop every day. Our extensive global network of correspondents report on supply and demand trends, corporate news, government actions, exploration, technology, and much more.
India's Bharat Petroleum Corporation Limited will study plans to develop the Arrowsmith 2 shale well in Western Australia for the domestic gas market and potentially for export to India, operator Norwest Energy said Thursday. BPCL subsidiary Bharat PetroResources Limited has a 27.803% interest in the Arrowsmith joint venture. Norwest holds 27.945% of the project, and another Australian junior, AWE Limited, owns the remaining 44.252%. BPCL Chairman R.K. Singh has just spent three days reviewing the Arrowsmith project, Norwest said. As part of the review, the Indian state-owned company and Norwest studied the Western Australian gas market and pricing, as well as the process required to build a pipeline from Arrowsmith to the nearby existing pipeline infrastructure.
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According to estimates by the US Energy Information Administration, the Perth Basin could hold as much as 59 Tcf of shale gas. Bharat PetroResources Limited is BPCL's exploration arm. In addition to its Arrowsmith holding, the company currently has interests in Brazil, Indonesia and Mozambique.--Christine Forster, christine_forster@platts.com --Edited by Martin O'Rourke, martin_orourke@platts.com
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