• search

GSPC makes major gas find in KG basin

Written by: Staff

Gandhinagar, June 7 (UNI) Gujarat State Petroleum Corporation (GSPC), a State-owned company, today announced a major oil and gas find in Deen Dayal oilfield in KG basin, offshore Kakinada in East Godavari district of Andhra Pradesh.

While Gujarat Chief Minister Narendra Modi refused to give details on the possible size of gas finds, officials in the energy department said gas and oil finds in the second well of block KG-17 would be larger than the Reliance gas finds of 2002, if the first well discovery of 2005 is taken into account.

The first well of Deen Dayal oilfield was drilled last year, which has estimated gas reserves of around 20 TCF. The reserves have already been certified by concerned agencies.

Mr Modi told reporters, after the Cabinet meeting, that the second well drilled by GSPC struck oil and gas on June 2 this year with gas flow of 4.8 million standard cubic feet per day and oil bulk of 862 barrels per day. The state government proposes to commence commercial production by December, 2008.

The stock of gas and oil is expected to be spread in a wide area of 60 to 90 kms at a depth of around 3,500 metres.

The Chief Minister said they have already informed about the new gas find to Central Government and Directorate General of Hydrocarbon (DGH) will estimate about the reserves.

He said Prime Minister Manmohan Singh and Petroleum Minister Murli Deora have already congratulated about the major discovery.

He said the gas has rich content and the State Government proposes to set up a LPG extraction plant on the mainland. The LPG extraction plant may be set up in joint sector.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more