ONGC to give KG-basin gas discovery details in 14 days

New Delhi, Jan 3: State-owned Oil and Natural Gas Corporation (ONGC) will formally announce the details of new gas discoveries in the Krishna-Godavari basin in the next two weeks, Company Chairman R S Sharma said today.

''The results of the discoveries are very encouraging and we are planning to make the announcement in a couple of weeks,'' Mr Sharma told reporters on the sidelines of a press conference.

Earlier, ONGC had said reserves in the Krishna Godavari basin could exceed market expectations of 21-22 trillion cubic feet, but the numbers would depend on further drilling.

The PSU has found a 28-30 metre net gas pay zone at a depth of about 5,400 metre in the block's UD-1 well.

UNI