Oil and Natural Gas Corporation has made five oil and gas finds in eastern offshore and north-east, the most significant being a gas discovery in the Mahanadi basin block where 3-4 trillion cubic feet of gas reserves have already been established.

"ONGC [Get Quote] made second discovery in Mahanadi basin in MN-DWN-98/3 block in east coast of India about 60-km off Paradeep coast (in Orissa)," a company press release said.

The well MDW-4A at a water depth of 1,087 meters produced gas with a high flow potential from a depth of 1,800 meters.

The state-run firm has 100 per cent interest in the block it won in first round of New Exploration Licensing Policy. The company has so far drilled five wells in Mahanadi Basin and made the first discovery in 2006.

It, however, did not say the reserve potential in the new discovery. ONGC produced 99,840 cubic meters per day of gas and 91 barrels per day of condensate from Uppidi-1 well in Block-1B in Krishna Godavari basin, off the east coast.

The block was awarded to ONGC prior to advent of NELP in 2000.

"This is again a new discovery and potential of the field is being assessed," it said. ONGC found oil in Disangmukh-3 well in Sibsagar district in Assam and Assam-Arkan basin, producing 1,421 barrels of oil per day from 3688-3677 meter depth.

"The flow rate of oil is highest among the discoveries in North-East. Oil is of very good quality sweet crude with API gravity of 33 and pour point 300 degree Celcius," it said. Disangmukh structure is situated 8 km north of Rudrasagar field close to Brahamputra river.