25.5.13

Big strike in KG D-6


Both RIL and BP have separately announced a major discovery of gas and condensate — a low-density mixture of hydrocarbon liquids that come out along with natural gas — in the KG-D6 block that could turn their fortunes by reversing the fall in production.
Official statements issued by the companies said their first exploration well drilled in the block in five years struck a 155-metre-thick gas and condensate zone. But privately, executives of both companies said this could turn out to be the biggest find in the block so far.
The new find would also come in handy for the oil ministry to point out the advantage of granting quick approvals to explorers and counter allegations of being soft on RIL for failing to meet gas production targets. RIL-BP had drilled the MJ-1 well in early March after the government permitted companies to drill exploration wells in areas where exploration period had expired.
Other sources said the discovery could be significantly more than a pre-drill best-case estimate of 819 billion cubic feet of gas and 56 million barrels of liquids for the well.

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