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A consortium of Reliance and Canadian explorer Niko Resources has stuck gas in the Orissa offshore.
Even though no final estimate of the in-place reserve is available, it is expected to be large, but smaller than its find of 14 trillion cubic feet (TCF) in the Krishna Godavari basin (Block D-6) in 2002. The official website of Niko disclosed that a 3D seismic program covering 1,800 square kilometers, or 12 per cent of the block, has been shot.
"Utilising the 2D and 3D seismic, several rollover anticlines at the Miocene level have been identified. These structures are smaller than those on Block D-6 with potential reserves in the 1 to 2 trillion cubic feet (TCF) range each," the website said.
When contacted, a Reliance spokesperson declined to comment on the issue. "We are neither denying nor confirming the development," the spokesperson added.
It is learnt that the company would go for multiple checking before making any announcement. The Reliance website, however, noted that six exploratory wells have been drilled in the block. RIL has 90 per cent participating interest in the block and it is the operator. Niko has 10 per cent interest. The shallow water north west coast block named NEC-OSN-97/2, is located in southwestern part of Bengal basin. The western boundary is marked by the coastline.
Water depth here ranges from 0-400 m. The block is adjacent to the Mahanadi basin which is stated to be the next hotspot for upstream activities. State run Oil and Natural Gas Corporation alone has eight blocks in the region and the company was very upbeat about the hydrocarbon prospects there. Director General of Hydrocarbon (DGH), country's upstream nodal agency, has also supported the view about the prospects of Mahanadi area in Orissa.
Experts feel that with this discovery Reliance is expected to become even stronger E&P player in the country, owing significant hydrocarbon reserves.