ONGC announces two new oil and gas discoveries

An oil discovery was made in an onland Cauvery Basin block and a gas find in the offshore Krishna-Godavari Basin, ONGC said in a press statement."The exploratory well North Kovilkallappal-1 in L-II Block, Cauvery Basin-Onland, drilled to a depth of 2,416 metres, flowed oil at the rate of 300 barrels per day," it said.

ONGC said the well was straight away hooked up to production facilities."This is a new prospect discovery in a separate structural culmination developed in a fault block North of the Kovilkallappal field in Thanjavur district," it said.

ONGC said exploratory well GS-KV-1, drilled in the nomination block IF in the shallow waters of the KG Basin to a depth of 2,908 metres, produced gas and condensate.

"The prospect is located only 3 km off the Amalapuram coastline and drilled in a water depth of 8 metres," it said. "The development of the shallow water area is under concept stage in the East Coast and would be consolidated for evolving a cluster-based approach of development and production."