By Rakteem Katakey
May 21 (Bloomberg) -- Oil & Natural Gas Corp., India’s biggest energy explorer, resumed operating one deepwater rig in the Bay of Bengal as cyclone Laila weakened after lashing the southeastern coast and snapping an anchor of a drilling ship.
“We have positioned or are positioning the other rigs and they will start operations very shortly,” U.N. Bose, technical director of the New Delhi-based company, said by telephone today. The company stopped work at seven rigs in the area and evacuated staff as Laila headed for the coast, he said earlier today.
The storm brought heavy rain to the Indian states of Tamil Nadu and Andhra Pradesh, claiming at least 22 lives and forcing oil producers in the bay to curb operations. Rainfall, winds gusting to 65 kilometers (40 miles) per hour and rough seas are likely during the next 12 hours in coastal Andhra Pradesh as the cyclone weakens, the weather office said.
Reliance Industries Ltd., India’s largest company by market value, may resume crude oil output at the KG-D6 field off the east coast as early as today, said a person with direct knowledge of the matter, asking not to be identified because he isn’t authorized to speak to the media. Manoj Warrier, a spokesman for Reliance, declined to comment when contacted by telephone today.
The Mumbai-based explorer is monitoring the storm and the start of the oil wells in the KG-D6 field, which were shut May 18 because of the cyclone, could be delayed until tomorrow if the seas remain rough, the person said.
Storm Movement
The storm may move in a north-northeasterly direction, according to an India Meteorological Department statement on its website issued at 1:30 p.m. local time. The cyclone lay about 100 kilometers west of Kakinada and may move into north Bay of Bengal and intensify again, the weather office said.
Reliance shares fell 0.4 percent to 995.55 rupees in Mumbai trading, while ONGC dropped 2.1 percent. The benchmark Sensitive Index declined 0.5 percent.
The cyclone, with sustained winds of 111 kph, made landfall about 100 kilometers south of the city of Vijayawada at 11:30 p.m. local time yesterday, the U.S. Navy Joint Typhoon Warning Center said.
At least 16 people died in Andhra Pradesh, the Times of India reported, including people washed away in floods or crushed as walls collapsed. About 45,000 people were evacuated to relief camps as rail and road services were disrupted, the report said. The Times reported yesterday six people died in Chennai and other parts of Tamil Nadu.
Source: http://www.bloomberg.com/apps/news?sid=axyhR.GvHKkU&pid=20601087
May 21 (Bloomberg) -- Oil & Natural Gas Corp., India’s biggest energy explorer, resumed operating one deepwater rig in the Bay of Bengal as cyclone Laila weakened after lashing the southeastern coast and snapping an anchor of a drilling ship.
“We have positioned or are positioning the other rigs and they will start operations very shortly,” U.N. Bose, technical director of the New Delhi-based company, said by telephone today. The company stopped work at seven rigs in the area and evacuated staff as Laila headed for the coast, he said earlier today.
The storm brought heavy rain to the Indian states of Tamil Nadu and Andhra Pradesh, claiming at least 22 lives and forcing oil producers in the bay to curb operations. Rainfall, winds gusting to 65 kilometers (40 miles) per hour and rough seas are likely during the next 12 hours in coastal Andhra Pradesh as the cyclone weakens, the weather office said.
Reliance Industries Ltd., India’s largest company by market value, may resume crude oil output at the KG-D6 field off the east coast as early as today, said a person with direct knowledge of the matter, asking not to be identified because he isn’t authorized to speak to the media. Manoj Warrier, a spokesman for Reliance, declined to comment when contacted by telephone today.
The Mumbai-based explorer is monitoring the storm and the start of the oil wells in the KG-D6 field, which were shut May 18 because of the cyclone, could be delayed until tomorrow if the seas remain rough, the person said.
Storm Movement
The storm may move in a north-northeasterly direction, according to an India Meteorological Department statement on its website issued at 1:30 p.m. local time. The cyclone lay about 100 kilometers west of Kakinada and may move into north Bay of Bengal and intensify again, the weather office said.
Reliance shares fell 0.4 percent to 995.55 rupees in Mumbai trading, while ONGC dropped 2.1 percent. The benchmark Sensitive Index declined 0.5 percent.
The cyclone, with sustained winds of 111 kph, made landfall about 100 kilometers south of the city of Vijayawada at 11:30 p.m. local time yesterday, the U.S. Navy Joint Typhoon Warning Center said.
At least 16 people died in Andhra Pradesh, the Times of India reported, including people washed away in floods or crushed as walls collapsed. About 45,000 people were evacuated to relief camps as rail and road services were disrupted, the report said. The Times reported yesterday six people died in Chennai and other parts of Tamil Nadu.
Source: http://www.bloomberg.com/apps/news?sid=axyhR.GvHKkU&pid=20601087
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