VietNamNet Bridge - The Economic Times of India on April 14 reported that Essar Energy Company (India) will start experimental drilling at its oil blocks in the Mumbai High oil field and in Vietnam in September and October.

As energy companies are cutting investment costs as crude oil prices have dropped by 50% since June, Essar plans to promote oil and gas drilling.

Manish Maheshwari, in charge of exploitation and production of oil and gas at Essar Oil, said: "We will be drilling in the offshore rigs of Mumbai and Vietnam at the time of favorable weather this year. Based on the results of initial drilling, we will decide the number of wells."

The increase in crude oil production can help improve Essar oil reserves at Vadinar refinery, which has a capacity of 20 million tons per year.

In Vietnam, Essar owns 100% stake in Block 114 in 2007 with a production sharing contract with the Government of Vietnam.

TTXVN