RIL strikes ‘significant’ oil in Gujarat block | business | Hindustan Times
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RIL strikes ‘significant’ oil in Gujarat block

business Updated: May 28, 2010 22:07 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Reliance Industries Ltd (RIL) has announced an oil discovery, the fifth in a row, in its Cambay basin block in Gujarat. However, RIL did not give reserve estimates other than calling the discovery as “significant.”

The discovery was made in the exploration block CB-ONN-2003/1, which is located in the Cambay Basin, about 130 km from Ahmedabad.

The discovery, named “Dhirubhai-48” has been notified to the government and the Directorate General of Hydrocarbons,” the company said in a statement.

“The potential commercial interest of the discovery is being ascertained through more data gathering and analysis,” the statement said.

RIL is the operator of this block with a 100 per cent participating interest. The company had won the block in the fifth round of auction under the New Exploration Licensing Policy (NELP).