Some interesting comments from a certain Mike Watts regarding...

Some interesting comments from a certain Mike Watts regarding Cambay's potential.
He is in no doubt and has put his money where his mouth is.. Lets hope we will all benefit.

Cairn Energy PLC in trouble-III: 50 TCF in tight oil reservoirs in Cambay basin and Rajasthan

Sept 29:

Cairn Energy PLC's Deputy Chief Executive, Dr. Michael J Watts (MW), suggested that being an importer of oil, there is a need in India to make the contract terms sufficiently attractive to attract foreign investment in "tight and unconventional" fields, which are not only capital intensive but also risky.

Watts informed that the new opportunity for business was now in the field of "tight and unconventional" drilling. He explained that "tight and unconventional" drilling required specialized techniques which were not only used in new areas but also in areas where drilling had been abandoned long ago.

The Deputy Chief Executive of Cairn informed that India has substantial potential for "tight and unconventional" drilling. Rajasthan and the Cambay basin of Gujarat are expected to have about 50 TCF of reserves.

The High Commissioner (HC) of India to the UK, Ranjan Mathai, remarked that even if 10% of these reserves are recoverable, it would be a significant quantity for India.