RIL strikes ‘significant’ oil in Gujarat block

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.”

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.”

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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).