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Reliance Industries finds oil in Gujarat
Mukesh Ambani-led Reliance Industries Tuesday said it has discovered oil in an onland block in Gujarat's Cambay basin.
The oil discovery in the block CB-ONN-2003/1 (CB 10 A&B) was the first one in hydrocarbon blocks auctioned in the fifth round of government auction, the company said in a statement.
Reliance Industries holds 100 percent participating interest in the block with an area of 635 square km, located some 130 km away from Ahmedabad.
The government and the oil regulator Directorate General of Hydrocarbons have been notified of the discovery, termed Dhirubhai-43, the statement said.
"A gross reservoir thickness of about 15 metres was encountered and the well flowed at a rate of 500 barrels of oil per day," the company said.
It added that it was assessing the commerciality of the discovery through more data gathering and analyses.
Last updated on Nov 10th, 2009 at 15:47 pm IST--IANS
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