Kochi, Aug 2
It will take at least 100 days to confirm whether there is hydrocarbon presence off Kochi coast, Oil and Natural Gas Corp (ONGC) chairman R.S. Sharma has Sunday.
"My initial observation and assessment is quite satisfactory. We are hopeful of the presence of hydrocarbons, but now it is too early confirm that," Sharma told reporters after visiting the upstream major's exploration site.
The company is all set to start a major drill for oil and oil gas from the Kochi basin Sunday.
ONGC started exploration in the region last year.
The company has now hired a rig from Reliance Industries which is capable to work round the clock and has a staff strength of 200 employees.