Oil India Limited (OIL), one of India’s largest public sector oil exploration and production companies, has made its second hydrocarbon discovery in the onland KG Basin NELP VI Block — KG-ONN-2004/1.
“The well Thanelanka-1 is the first high pressure-high temperature (HP-HT) well drilled by OIL and has encountered multiple sands in Gollapalli Formation of late Jurassic-early Cretaceous and one zone in Raghavapuram Formation of intra Cretaceous,” the company said in a statement adding that on testing, the HP-HT zone in the depth range 4,912-5,159 m in Golapalli Formation produced gas at 300 scmd through 16/64” bean choke.
“The size of the discovery can only be ascertained after further testing of the wells” said an OIL official.
OIL is the operator of the the block with 90% participating interest while the balance 10% is held by Geo Global Resources. Earlier, the company made a gas discovery at Dangeru-l well in the block.
In 2017-18, OIL produced 3.39 metric million tonnes (MMT) of crude oil and 2.93 billion cubic meters (BCM) of gas.
Besides having a pan-India presence, OIL has participating interest in blocks in more than nine countries overseas — Libya, Gabon, Nigeria, Yemen, Venezuela, USA, Mozambique, Russia and Bangladesh.
Oil India shares closed at Rs. 208.10 or 1.09% lower on the BSE on Monday. The announcement came after closure of market hours.