Under the OLAP regime
Vedanta has notified the Management Committee, DGH and Ministry of Petroleum and Natural Gas on 23 August 2021 of a Gas & Condensate Discovery (named 'Jaya') in its exploratory well Jaya-1 (earlier Jambusar-Updip-1) drilled in OALP Block CB-ONHP/2017/2 in Bharuch District of Gujarat. The approval of Management Committee has also been sought. The Block was awarded to the Company in October 2018 and is one of the 41 Blocks awarded to it in OALP-I round of bidding. The Company holds 100% participating interest in the block. Jaya-1 (earlier Jambusar-Updip-1) is the third well drilled in Gujarat and second hydrocarbon discovery notified by the Company under the OALP regime. Further evaluation will be carried out to assess potential commerciality of the discovery.Powered by Capital Market - Live News
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