Reliance strikes 7th find in Cambay basin

Written by fe Bureaus | Mumbai | Updated: Jun 30 2010, 05:04am hrs
Reliance Industries (RIL) on Monday announced its seventh oil discovery in exploration block CB-ONN-2003/1 (CB 10 A&B), awarded under the NELP-V round of exploration bidding. The discovery is significant, as this play fairway is expected to open more oil pool areas leading to better hydrocarbon potential within the block, RIL said in a media release.

The block CB-ONN-2003/1 is located at a distance of nearly 130 km from Ahmedabad in the Cambay basin. The block covers an area of 635 sq km in two parts Part A & Part B. RIL, as the operator holds 100% participating interest (PI) in the block. While the entire block was covered with 2D seismic, nearly 80% of the area has 3D seismic coverage.

This discovery, named Dhirubhai50, has been notified to the government and the director general, directorate general of hydrocarbons. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, RIL said.

The hydrocarbon bearing zone was identified from 1388-1403m in the Miocene Basal Sand (MBS) of Babaguru formation. Conventional production testing was carried out in the interval 1389-1400m. The well flowed at a rate of 410 barrels of oil per day (bopd). RIL shares were up 2.38% to close at Rs 1,088 on the BSE on Monday.

This discovery supplements the understanding of the petroleum system in the Cambay basin in general and this block in particular. Based on interpretation of the acquired 3D seismic campaign in the contract area, several more prospects with upside potential have been identified at different stratigraphic levels, the release added.