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Oil India makes two Hydrocarbon Discoveries in Q2FY19

11 Oct 2018 Evaluate

Oil India (OIL) has made two Hydrocarbon Discoveries in Dibrugarh & Tinsukia district in the Upper Assam Basin during the second quarter (Q2) of the financial year 2018-19, in the wells West Lohali -1 and Dhakuwal-I respectively.

The well West Lohali-1 encountered one sand in Barail formation of Oligocene age. On testing, a 13 m Barail sand at a depth of 2357 m, produced gas at the rate of 1,15,000 scmd. The well Dhakuwal-l encountered two zones in LK+TH formation of Eocene age. On testing, a 15 LK+TH sand at a depth of 3875 m, produced gas at the rate of 1,00,000 scmd with 22 m3/d condensate.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

Peers
Company Name CMP
ONGC 225.35
Oil India 450.50
Jindal Drilling&Inds 499.00
Deep Industries 677.90
Asian Energy Service 422.55
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