Oil and Natural Gas Corporation (ONGC) has struck large gas reserves in the Krishna Godavari (KG) basin off the Andhra Pradesh coast.Drillship Discoverer 7 struck gas reserves at well G1-12 in a block that was given to ONGC on nomination basis prior to the new exploration licensing policy (NELP)."We have struck gas reserves at one of the pre-NELP blocks in the KG basin. The well is under testing, and we expect results in a week's time," a senior company official said.Though the company has not put an estimate of the reserves, preliminary estimates put the reserves at 4 trillion cubic feet (TCF).The G1-12 lies 15-km south of the discovered G1 field and has "excellent" channel bodies. Ongc's own drillship, Sagar Vijay, had found gas reserves in the vicinity of the G1-12 well in December last year.
