ONGC, a state owned Indian giant has made five new gas discoveries; promising news after the company reported a drop in profits for Q3 of this year.
One of the finds that was of particular importance to ONGC was an exploratory well in the Lower Bhuvan formation situated on Block AA-ONN-2001/2. Gas was tested in the well at 15 656 m3pd.
A statement by the company has said that this find was important because it “is the first discovery outside the states of Assam, Nagaland and Tripura in north eastern region by ONGC and, therefore, is very significant in terms of expanding its success horizon.”
These most recent finds by ONGC bring the companies discovery total for the current financial year up to 20.
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