Mumbai, Reliance Industries made a fourth oil discovery in the Cambay Basin in Gujarat.
Two hydrocarbon-bearing zones were discovered in a well drilled in exploration block CB-ONN-2003/1, which flowed 300 barrels of oil during testing, the company said in a press statement. The block was awarded under NELP-V round of exploration bidding, the statement added.
The discovery is significant as this play fairway is expected to open more oil pool areas, leading to better hydrocarbon potential within the block, it said.
The well, CB10A-F1, was drilled to a total depth of 1,605 metres and flowed at a rate of 300 barrels of oil per day (bopd). The 635-sq km CB-ONN-2003/1 block is located at a distance of about 130 km from Ahmedabad, in Gujarat. The block that covers an area of 635 sq km, is divided into two parts viz., Part A & Part B. RIL, as Operator, holds 100% participating interest (PI) in the block.
This discovery, named Dhirubhai-47, the fourth oil discovery in the block so far, has been notified to the government and Director-General, Directorate General of Hydrocarbons, the statement said.
The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, Reliance Industries said in a statement.
RIL is continuing further exploratory drilling efforts in the block.
Notes to Editor
The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is Indias largest private sector enterprise, with businesses in the energy and materials value chain. Groups annual revenues are in excess of US$ 28 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India.
Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain.
