ONGC's drill ship Sagar Vijay encountered large gas bearing structures while drilling its maiden well in the G4-AB location, adjacent to RIL's gas bearing KG-DWN-98/3 block.
"The well is to be drilled to a depth of 2500 meters and gas indications have already been observed at a number of places in the interval of 1580-1720 meters," highly placed company sources said.
While the reserves have not yet been tested as the well is yet to reach its target depth, preliminary indications point to a potential of little less than a trillion cubic feet of gas. Reliance had in 2002 struck 14 tcf of gas reserves in KG-DWN-98/3 block, off the Andhra Pradesh coast. Prior to that Cairn Energy of UK had established one tcf of reserves in KG-DWN-98/2, south of RIL block.
Sources said Sagar Vijay spudded the well, northwest of RIL's 14 tcf find in KG-DWN-98/3, in November and is expected to reach the target depth next month.
ONGC, which has about a dozen exploration blocks in the highly prospective KG basin, will be deploying another drillship chartered from Transocean in the basin next month.
Another drillship, Belford Dolphin, is drilling in the Gulf of Kutch in the Arabian Sea at location GKDW-CA-1.
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