RIL strikes gas in KG basin

New Delhi, Feb 13 (UNI) Mukesh Ambani-owned Reliance Industries Ltd (RIL) today announced the first gas discovery in exploratory block in Machalipatnam, in Andhra Pradesh in the deep waters of the Krishna Basin of Bay of Bengal.

KG-DWN-2003/1 (KG-V-D3) issued under NELP-V covers an area of 3,288 Sq Km, said a statement.

The gas discovery has been struck in the very first exploratory well in this block. RIL holds 90 per cent participating interest (PI) and Hardy Exploration and Production India Inc holds balance 10 per cent in the block.

The well has a flow rate of 38.1 MMscfd on conventional testing and RIL said the potential commercial interest of the discovery is being ascertained through more data gathering and analysis.

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