Reliance Industries Ltd (RIL) has announced its third successive gas discovery in a deep water exploration block in the Krishna-Godavari basin, which the company had bagged in the fifth round of the new exploration licensing policy.
RIL holds a 90% participating interest in the block. Hardy Exploration and Production (India) Inc. hold the remaining 10% stake. The block is about 45 km off the Bay of Bengal coast and covers 3,288 sq. km. The discovery, named "Dhirubhai-44", has been notified to the government and the Directorate General of Hydrocarbons.
The potential commerciality of the discovery is being ascertained through more data gathering and analysis. Drilling for exploration on the block commenced in 2008. In February 2008, RIL made its first gas discovery in the same block and the discovery was named "Dhirubhai 39". In April 2008, the company made its second discovery in the block. RIL is likely to drill three additional exploration wells in the block before the end of 2010.
Source: Live Mint
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