Business Update23 Oct 2026, 09:41 am
Oil India Ltd Discovers Natural Gas in KG Basin Block
AI Summary
Oil India Limited (OIL) has announced the discovery of Natural Gas in the "Matsyapuri" formation within the shallow offshore KG-DSF/GSKW/2018 block in the Krishna-Godavari Basin. The discovery was made in the appraisal well Godavari-1, with hydrocarbon presence confirmed at depths between 2024 to 2027 meters. Production testing yielded natural gas at approximately 1 Lakh SCUMD, reaching up to 2 Lakh SCUMD, along with condensate at about 170 bopd and water. Further testing of higher zones is planned. This discovery marks a significant stride for OIL in its hydrocarbon exploration efforts.
Key Highlights
- Natural gas discovered in KG Basin shallow offshore block.
- Appraisal well Godavari-1 confirmed hydrocarbon presence.
- Flow rates of 1-2 Lakh SCUMD natural gas achieved.
- Condensate production of approximately 170 bopd also reported.
- Further testing of higher zones is planned.
Price Impact
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