GSPL finds traces of hydrocarbons in KG basin well

Ahmedabad, Sep 13 (UNI) The state-owned Gujarat State Petroleum Corporation Ltd (GSPCL) today said it has found traces of hydrocarbons in its exploration block in the Krishna Godavari basin.

GSPL Managing Director D J Pandian said traces of hydrocarbons have been found in the fifth well.

''This is in the preliminary stages. Technical analysis is being done,'' he told UNI.

The company had earlier made two discoveries of oil and gas in its Deen Dayal block in the KG basin. In June, the company reported that it had found oil and gas reserves in its fourth well, while last year, it had announced a major gas discovery with a reserve estimate of over 20 trillion cubic feet (TCF).

UNI MMG/VNB SSS VKG1734