Though this is the seventh oil discovery in the block, the company has yet not put a reserve estimate for any of the oil finds in the area
Reliance Industries (RIL) today said that it has made a seventh oil discovery in the Gujarat block, reports PTI.
The well, CB10A-N1 encountered hydrocarbon bearing zone between 1,388 and 1,403 metres below the earth in the block CB-ONN-2003/1 near Ahmedabad, the company said in a press statement in New Delhi.
"The well flowed at a rate of 410 barrels of oil per day," it said.
RIL, which has so far drilled 17 exploratory wells in the block, of which only six contained oil. The company has named the new discovery 'Dhirubhai-50'.
Though this is the seventh oil discovery in the block, the company has yet not put a reserve estimate for any of the oil finds in the area.
The company said it had notified the government and the Directorate General of Hydrocarbons (DGH) about the new find. "The potential commercial interest of the discovery is being ascertained through additional data gathering and analysis", added the company statement.
The block CB-ONN-2003/1 is located at a distance of about 130 km from Ahmedabad in Gujarat, in the Cambay basin. The block covers an area of 635-sq km in two parts—Part A and Part B.
RIL, as operator, holds 100% stake in the block. It had won the block in the fifth round of auction under the New Exploration Licensing Policy (NELP-V).
While the entire block was covered with 2D seismic, about 80% of the block area has 3D seismic coverage. Of the 17 exploratory wells drilled in the block by RIL, so far, 13 are located in Part-A and the remaining 4 in the Part B of the block.
Earlier on 11th June, RIL had informed of its sixth oil discovery in the Gujarat block. Based on acquired 3-D seismic data on this block, the company expects several more potential finds in the area.
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