Reliance Strikes Eighth Gas Discovery in Block NEC – 25 in the Mahanadi Basin
Posted on February 27, 2008 – 12:02 pm | by oilandgaspress.com
Mumbai, February 26, 2008: Reliance Industries Limited (RIL) is pleased to announce yet another gas discovery in NEC-OSN 97/2 (NEC-25) block located in the NEC-Mahanadi offshore basin, off the Orissa coast in Bay of Bengal. This shallow water block covering an area of 10,755 sq km in water depths ranging between 20-600 m was awarded under the bidding round of NELP I. RIL holds 90% participating interest (PI) and NIKO (NELPIO) Ltd. holds 10% of PI in the block.
This is the eighth discovery in the block. RIL had earlier struck six consecutive commercial discoveries in this block, for which the development plan has been submitted to the Directorate General of Hydrocarbons (DGH) for approval.
The well NEC 25-J1 was drilled with the objective of exploring upper Miocene slope sands in the deeper part of the block. This well was drilled at a water depth of 478 m to the target depth of 2926 m. For the first time in this basin, the well encountered high quality multi-darcy gas bearing reservoir sands in the interval 2484 – 2495.5 m based on the interpretation of the wire-line logs. Subsequently, the presence of gas in the above interval was confirmed by carrying out Modular Dynamic Testing (MDT).
This discovery, named ‘Dhirubhai–40’ has been notified to Government of India and DGH. RIL is currently evaluating the potential commercial interest of the discovery through additional data collection and analysis.
This discovery establishes the hydrocarbon potential towards the deeper part of NEC-Mahanadi Basin and opens up more acreage for further hydrocarbon exploration efforts.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with turnover of Rs1,18,354 crore (US$ 27.23 billion), cash profit of Rs17,678 crore (US$ 4.07 billion), net profit of Rs11,943 crore (US$ 2.75 billion) and net worth of Rs63, 967 crore (US$ 14.72 billion) as of March 31, 2007.
RIL is the first and only private sector company from India to feature in the Fortune Global 500 list of ‘World’s Largest Corporations’ and ranks amongst the world’s Top 200 companies in terms of profits. RIL is amongst the 25 fastest climbers ranked by Fortune. RIL also features in the Forbes Global list of world’s 400 best big companies and in FT Global 500 list of world’s largest companies.
Key Contacts:
Sharmili Vashani (Mumbai) Tushar Pania (Mumbai) Sudeep Purkayastha (Delhi)
022 – 2278 5587 022 -2278 5905 011-2346 3634
+91 99875 11205 +91 98200 88536 +91-98994 41119
sharmili.vashani@ril.com tushar.pania@ril.com sudeep.purkayastha@ril.com
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