Niko Continues Success Offshore India

Niko Resources has revealed a new major gas discovery in the D-6 Block and another gas discovery in the NEC-25 block off the east coast of India.

In the D-6 Block the M-1 exploration discovery well was drilled approximately 19km SSE of the Dhirubhai field in 1327 meters of water to a total depth of 2942 meters.

The operator estimates M-1 exploration well has approximately 155 meters of net pay making it one of the thickest net pay gas sections encountered to date in the D-6 block. The well flowed 23.7 mmcf per day from a 6 meter interval at a depth of 2750 meters.

M-1 is the 11th consecutive successful well drilled in the 1.9 million acre D-6 Block. All drilling to date has occurred in the first 1800 km2 3D seismic program that covers less than 20% of the Block. An additional 2500 km2 3D seismic program is currently being processed and merged with the original 3D survey.

In NEC 25 Block the A2 well was drilled in 70 meters of water and is approximately 2.2 km from the A4 gas discovery well. The well tested at rates up to 15.8 mmcf/d. The operator estimates the potential net gas pay to be 40 meters.

This is the fourth consecutive exploration gas discovery in NEC-25. Plans are progressing for fast track gas production in the NEC-25 block. Further details on the discovery will be released when available.

Niko has a 10 percent working interest in both the D-6 and NEC-25 Blocks with the operator Reliance Industries Limited.