Cairn Energy (India) has made a significant oil discovery in the exploration block in which it had struck gas in July. The block, KG-DWN-98/2, is situated in the Krishna-Godavari basin off-shore in Andhra Pradesh.
The oil discovery occurred at a water depth of 493 metre. Initial reserve estimates are in the range of 5.4 to 10.7 million metric tonne (MMT), subject to further appraisal. In addition, associated gas is also present at the block, an official press release said.
The exploratory well drilled in this prospect,