Reliance finds more gas in K-G basin

Reliance Industries today said it has found more gas in one of its offshore blocks in the Krishna Godavari basin, off the east coast.

"The well (KGIII5-P1) is the second gas discovery in the Miocene clastics reservoir in the Krishna basin," it said in a statement.

The shallow water block was awarded to Reliance in under the New Exploration Licensing Policy (NELP III). Reliance holds 100 per cent interest in the block.

"This is not a large find according to our initial estimation. Various studies and seismic data have to be analysed to assess the find," said an RIL official.

The well was bored at a water depth of 151 metres and was drilled to the target depth of 3,500 metres, it said.

The firm has informed the upstream regulator about the gas discovery and is evaluating the commerciality of the discovery, the release added.

In July, Reliance found oil and gas in a block in the nearby Cauvery basin and said it had a flow rate of 1,000 barrel per day (bpd) of oil and 30 million cubic feet of gas.

Reliance, which discovered India's largest gas field in the KG basin in 2002, is spending about $5.2 billion to develop and $3.5 billion to maintain production from its deep-sea gas fields.

The discovery has been named Dhirubhai - 37 and has been notified to Government of India and the Directorate General of Hydrocarbons (DGH).