Reliance Industries on Friday said it has made a fifth oil discovery in a block in Gujarat, but did not give reserve estimates.
The discovery was made in exploration block CB-ONN-2003/1, which is located in the Cambay Basin at a distance of about 130 km from Ahmedabad, the company said in a statement in New Delhi.
Reliance had won the block in the fifth round of auction under the New Exploration Licensing Policy.
Well CB10A-J1 was drilled to a total depth of 1,957 metres in Part A of the block. "Hydrocarbon-bearing zone was identified at a depth of 1,376-1,385.5 metres," it said.
"The well flowed at a rate of 255 barrels of oil per day" during conventional testing of the discovery, the company said.
Well CB10A-J1 was drilled with the objective of exploring the play fairway in the Miocene Basal Sand of the Babaguru Formation and Eocence Pays of the Kalol Formation.
"The discovery is significant, as this play fairway is expected to open more oil pool areas, leading to better hydrocarbon potential within the block," Reliance said.
The block covers an area of 635 sq km in two parts, dubbed Part A and Part B. Reliance is the operator of the block with a 100 per cent participating interest.
The company has done 2D seismic surveys over the entire block area, while nearly 80 per cent has been covered with 3D seismic.
"Of the 15 exploratory wells drilled in the block by Reliance so far, 11 are located in Part A and the remaining four in Part B of the block. Reliance is continuing further exploratory drilling efforts in the block," the statement said.
The discovery, named 'Dhirubhai-48', the fifth oil find in the block so far, has been notified to the government of India and to the Director General of the Directorate General of Hydrocarbons.
"The potential commercial interest of the discovery is being ascertained through more data gathering and analysis," RIL said.
