- Reliance finds Gas and Oil in Four Blocks

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Reliance finds Gas and Oil in Four Blocks

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Reliance finds Gas and Oil in Four Blocks

Wednesday, 18 July 2007

Reliance Industries Limited has confirmed gas and oil discovery in the four blocks amounting to 49per cent of the resources in the country available in the Cauvery Basin,
60 kilometers in the Pondichery town on the Tamil Nadu coast.
The company expects newly found resources to have at least 30 billion cubic feet of gas per day and about 1,000 gallons of oil.This is the first hydro carbonation discovery of reliance Industries Limited in 1,200 to 3,000 meters deep water block.
CY-DWN-2001/2(CY-III-D5) off the Tamil Nadu coast in an area spread across14,325 square kilometers. With this latest resource finding, Reliance Industries conveyed that it has covered all its oil and gas exploration and the related discoveries off shore on the east coast of India.

The presence of oil and gas with condensate has been confirmed by several test including Modular Dynamic Tester (MDT) and the Drill Stem Testing (DST).during DST, the well produces 31 million standard cubic feet of gas with 1200 barrels of condensation per day from the main zone. Another zone tested below the main zone produced around 550 barrels of oil per day with one million standard cubic feet of gas. This discovery namely “Dhirubhai -35” has been notified to the government of India and the directorate general of hydrocarbons.

Reliance Industries Limited petroleum business president and CEO, Mr. P.M.S. Prasad, said “Till date, we have spent about Rs 9,000 crores towards oil exploration and development activities in India. Over a period of time, Reliance intends to spend at least
Rs.23,000 crores to continue to discover and produce oil and gas resources in the country. However the parameters such as the shortage of skilled workforce, the availability of good quality of oilrigs and the poor quality of infra structure has hit the oil exploration business in the country.”

He added,”The oil and the gas resources of our country are yet not fully explored as only 15per cent of the Indian basin have been developed. Also, most of these basins lie on the land shallow water. The deep water oil and gas thus has excellent potential”

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