RIL Embarks On New Gas Find at Cauvery Basin
Filed Under: Business | Posted: 12/18/2012 at 4:37AM
Comments | Region: India
The Government has given a green signal to RIL (Reliance Industries Limited) to work on assessing its new discovery at the deepwater Cauvery–Palar basin. After a number of discoveries including the Krishna – Godavari, the energy giant has come up with another discovery in the Cauvery basin. Sources claim that this discovery will add momentum to the company’s field developments and enable it and its partner BP to expand their portfolio. Preliminary findings suggest that the first well SA 1 has a potential of over 100 million barrels of condensate or liquid oil and around 3 trillion cubic feet of gas.
A senior official has mentioned that the government has already offered the approval letter to the operator. Further proceedings may start only with the company appraising its discovery and submitting its field development plan. RIL had won this block, extending to 8600sq km, under the bidding round of NELP – III. It currently has a 30 percent participating interest in the block. Following government’s approval, BP might also hold a 30% participating interest, owing to the strategic partnership between the two companies.
The operator also mentioned that they had conducted a flow test previous month, to comprehend the yield. This test, monitored by the officials of upstream quasi regulator – Directorate General of Hydrocarbons, revealed that it yielded 40 million cubic feet of gas per day and 1200 barrels of light oil per day via a 38/64 inch choke. At present, CYPR-D6 holds a lot of significance for RIL, second to the KGD6 block.
At a water height of 2000 metres and a depth of 4000 square metres, the deepwater strike was carried out. The company is presently in talks to drill seven exploratory wells in this block, additionally. The location of the block in the new frontier areas makes it even more noteworthy.
Reliance is highly optimistic about the potential of this new block as it has evaluated the same using a number of tests including Modular Dynamic Testing and Drill Stem Testing. The discovery is at present named ‘Dhirubhai -53,’ according to sources.
Located at the southern east coast of India and the North Eastern Coast of Sri Lanka, it is a passive margin rift basin. Since the year of 1986, the coast has been in the news for a number of discoveries being carried out there.