|
| GSPC strikes oil in Ankleshwar |
| Maulik Pathak / Ahmedabad Nov 27, 2008, 00:20 IST |
|
Gujarat State Petroleum Corporation (GSPC) has struck oil in one of its onshore wells in Ankleshwar, said sources close to the development.
Oil was struck at Ankleshwar Well No. 21 at a depth of 2,200 metres and it has begun yielding 200 barrels a day. GSPC has drilled five wells from May to August this year. “The testing in the well, where oil has been found, is yet to be completed. Meanwhile, testing in other wells is also on,” sources added.
In the past, Oil and Natural Gas Corporation (ONGC) has struck oil in Ankleshwar. The company produces 5,600 kilo tonnes a day (ktpd) of oil from the 21 fields in Ankleshwar and Gandhar. So far, ONGC has drilled about 325 wells in the region.
A few months ago, GSPC had struck a huge gas find in the KG-22 well in the offshore KG-OSN-2001/3 block. GSPC has discovered more than 20 trillion cubic feet of gas in its exploration block in the KG basin, off the Andhra Pradesh coast in July this year.
The company has already invested about Rs 3,500 crore for the KG basin development and intends to invest an equivalent amount.
Earlier this month, GSPC signed an agreement with the Indonesian government to explore oil and gas blocks there. The consortium of Essar and GSPC had won the south-east Tungkal block, spread over 2,309.59 km in Jambi.
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
