NEW DELHI (Dow Jones Newswires), Oct. 15, 2010
Oil & Natural Gas (ONGC) said Friday it has made oil and gas discoveries in the Cauvery and Krishna-Godavari basins of India's east coast.
The state-run company said it drilled an exploratory well in onshore Cauvery basin to a depth of 2,416 meters, from where oil flowed at the rate of 300 barrels per day.
The well has been put on production, the company said, adding that it also discovered gas in the well.
Another exploratory well in shallow offshore Krishna-Godavari basin produced gas and condensate.
The development of the shallow water area is under concept stage and would be consolidated for evolving a cluster-based approach of development and production, it said in a statement.
Copyright (c) 2010 Dow Jones & Company, Inc.
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