Saturday, September 22, 2007
Reliance makes oil discovery off India's east coast
Mukesh Ambani-led Reliance Industries (RIL) on Saturday said it had discovered oil in the deepwater block KG-D4 in the Krishna Basin, in Andrha Pradesh. The company spokesperson said this is the first time an oil discovery has been made in the Krishna deep-water basin.
The well was located in a water depth of 565 meters and was drilled to a target depth of 3,595 meters. It has a gross oil column of more than 20 meters in the mesozoic section, and yielded a flow of 596 barrels of oil per day during the drill stem testing.
Reliance is already spending about $5.2 billion to develop and $3.5 billion to maintain production from its deep-sea gas fields.
The well was located in a water depth of 565 meters and was drilled to a target depth of 3,595 meters. It has a gross oil column of more than 20 meters in the mesozoic section, and yielded a flow of 596 barrels of oil per day during the drill stem testing.
Reliance is already spending about $5.2 billion to develop and $3.5 billion to maintain production from its deep-sea gas fields.
# posted by uv : 7:39 PM
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