State-run Oil and Natural Gas Corp (ONGC) today said it has made 28 oil and gas discoveries, including in the prolific Krishna Godavari basin, in the last fiscal but did not put reserve number to the findings.
The 28 discoveries include Charada structure and Matar field in Cambay basin (Gujarat) and YSAF in KG basin (off Andhra Pradesh coast), the company said in a statement here.
The discoveries made in FY'09 have been notified to the Directorate General of Hydrocarbons (DGH).
ONGC, however, denied reports that the KG basin find may contain estimated reserves of 10 Trillion cubic feet (Tcf) of gas. "Based on single well, size of any discovery cannot be estimated. The initial flow rates do not indicate reserves anywhere near 10 Tcf."
The company said the three discoveries had certainly opened up new areas for exploration in Cambay onshore and KG offshore basins. "Further, study and delineation drilling would be required to estimate the size of these discoveries," the statement added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app