Reliance Industries Ltd (RIL), which has tasted success in a block in the Cauvery basin, could be close to striking hydrocarbon in an adjacent block (Palar deepwater PR-DWN-2001/1) in the region. The first success was in the CY-DWN-2001/2 (CY-III-D5) block.
The company has temporarily shifted focus to Cauvery-Palar offshore from the
After successful completion of its drilling activity in the Palar block, the company has now moved to CY-D5 and is drilling an appraisal well. RIL started drilling the appraisal well a few days ago. CY-D5 is where RIL had run out of luck after striking oil and gas in only one out of the five wells drilled.
According to the initial appraisal programme for CY-D5 as submitted to the management committee of the block, RIL was estimated to invest about $22.75 million for undertaking additional work.
These two blocks were awarded to RIL in NELP III. As on date, RIL has 29 oil and gas blocks, and has made 44 discoveries (both commercial and non-commercial) including overseas properties.
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