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Corporate Aug 23, 2013

Reliance Industries, BP make new gas discovery in Cauvery basin

Energy conglomerate Reliance Industries and and its UK-based partner British oil company BP Plc on Friday announced a new gas condensate discovery off the east coast of India in the Cauvery basin.

The energy giant has notified the government and the Directorate General of Hydrocarbons about the discovery named, D-56.

The discovery is situated 62 kilometres from the coast in the Cauvery Basin and is the second gas discovery in the block. Reliance is the operator of the block with a 70 percent stake and BP has a 30 percent share.

Reuters

Reuters

"Well CYIII-D5-S1 was drilled in a water depth of 1,743 meters, to a total depth of 5,731 meters, with the primary objective of exploring Mesozoic-aged reservoirs," the joint statement said.

Preliminary evaluation of well data and fluid samples indicate presence of gas condensate in the reservoir interval with a gross column of 143 metres. The well reached its total depth and RIL, as an operator has conducted drill stem test to evaluate the potential of the discovery, said the firm in a statement.

The RIL-BP contractors till now have been receiving criticism from all quarters for unable to check the fall in output from the prolific KG D6 block. With this discovery, RIL has something positive to talk about.

Agencies

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