India strikes more gas, oil in Cambay basin

Jul 4, 2006, 16:03 GMT

New Delhi, July 4 (IANS) India has struck more gas and oil in a block in the Cambay basin on the western coast.

The discovery was made in a block operated by Gujarat State Petroleum Corporation (GSPC) and held jointly with GAIL (India) Ltd.

'Both oil and gas has been discovered in block CB-0NN-2000/1 in Cambay basin. Until proper appraisal we cannot estimate the reserves,' V.K. Sibal, head of Directorate General of Hydrocarbon, the exploration regulatory body, told IANS here Tuesday.

This is the third strike in the block. Two wells - PK1 and PK2 - had earlier indicated promising signs of gas presence.

'The discovery is primarily a gas find, as the oil flow is less,' sources said.

The GSPC had last month announced the second major gas and oil find in its Krishna-Godavari basin block (Deen Dayal) at the KG17 well, a year after discovering an estimated reserve of 20 trillion cubic feet of gas in KG-8 well there.

According to Sibal, the second discovery in the KG basin block is significant as it is in comparatively lesser depth than the earlier find 'and has opened new area of exploration'.

Both the finds in KG basin are still to be appraised for estimated in-place reserves.

GSPC has estimated the KG17 well discovery may yield gas at the rate of 4.8 million standard cubic feet per day and 862 barrels per day of crude oil.

'This is one of the most significant discoveries for GSPC because over and above the stock of higher quality oil, this is for the first time that GSPC has struck oil as well as gas in the same well,' official sources said.

© 2006 Indo-Asian News Service