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Rediff.com  » Business » ONGC made 28 oil & gas discoveries in '08-'09

ONGC made 28 oil & gas discoveries in '08-'09

June 23, 2009 14:33 IST

State-run Oil and Natural Gas CorporationĀ said on Tuesday 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 finds.

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.

The discoveries made in FY'09 have been notified to the directorate general of hydrocarbons.

ONGC, however, denied reports that the KG basin find may contain estimated reserves of 10 trillion cubic feetĀ 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.

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