Reliance strikes gas off Gujarat shore

Jan 09, 2003 01:00 AM

Close on the heels of the discovery of 7 tcf of gas reserves in the deep waters of the Krishna Godavari basin, Reliance Industries has struck significant oil and gas reserves in an exploration block the Gujarat shore. Reliance struck hydrocarbons in the very first well it drilled in the GK-OSJ/1 block in the shallow waters of the Gulf of Cambay, senior company officials said.
No assessment of in-place reserves has been done as the reserves are yet to be tested, they said, adding the company would make an announcement on the find in a month's time.

The block is one of the five blocks Reliance Industries acquired from Tullow Oil of UK for just over £ 1 mm. Sources, however, indicated that gas production from the new find could be close to 1 mm cmpd as per the initial assessment.
The block is close to the four hydrocarbon discoveries Scottish explorer Cairn Energy had made, of which the Lakshmi field has started commercial production. The remaining (Gauri, Ambe and Parvati) are in differentphases of development.

Reliance Industries, in consortium with Canadian Niko Resources (RIL 90 %, Niko 10 %) had last year struck 7 tcf of in-place reserves in KG-DWN/98/3 block in the deep waters of the KG Basin. It has estimated that the field could produce up to 40 mm cmpd in two-and-half years.

Source: The Economic Times
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