State-owned Oil India Ltd said on Friday it has made a natural gas discovery in a shallow-water block in the Krishna-Godavari Basin off India's east coast that it won in the recent Discovered Small Field (DSF) bid rounds, PTI reported via The Hindu BusinessLine.

Source: PTI via The Hindu BusinessLine

The discovery was made in the previously unappraised Matsyapuri formation through the Godavari-1 appraisal well in the KG-DSF/GSKW/2018 block, where Oil India is the sole operator. Testing of a hydrocarbon-bearing zone at a depth of 2,024 to 2,027 metres began on October 16, the company said.

Source: PTI via The Hindu BusinessLine

200,000 SCMDPeak gas flow in continuous testing (yaani 2 lakh standard cubic metres a day)
~100,000 SCMDSustained gas flow rate
~170 barrels/dayCondensate produced alongside the gas
2,024-2,027 mDepth of the tested hydrocarbon zone

The well also produced condensate at about 170 barrels per day, with an API gravity of 55.8 degrees, along with water, at a wellhead pressure of 1,815 psi, Offshore Energy reported, quoting the company's statement.

Source: Offshore Energy

Preparations are under way to test the next higher zone in the well, OE Digital reported. Oil India gave no assessment of the potential resource the discovery may hold, and no reserve estimate or development timeline has been announced.

Source: OE Digital

The Krishna-Godavari Basin is one of India's key offshore hydrocarbon regions. The find comes as India, which imports a substantial share of its natural gas, works to expand domestic supplies; the government has set a target of raising natural gas's share of India's energy mix to 15 per cent by 2030, from about 6 per cent currently, PTI reported.

Source: PTI via The Hindu BusinessLine