ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has made two significant oil discoveries in a block in northeastern Syria.
OVL and its partner IPR Mediterranean Exploration discovered Rashid and Abu Khashab oilfields in block-24, the company said in a statement here.
Rashid-1 well, drilled up to 1,739 meters, tested oil at the rate of 1,343 barrels per day (bpd). The second discovery well Abu Khashab-1 penetrated Jeribe formation of Miocene age at 950 meters and tested oil with a rate of 900 bpd.
The third well Abu Khashab-2 was drilled to deeper horizons Dibbane and Chilou, where oil was found.
"The two discoveries are expected to hold about 185 million barrels of oil in place. Plan for development has been submitted for both Rashid and Abu Khashab fields," it said.
Block-24, for which concession agreement was signed in 2004, is spread over 1,927 sq km. OVL holds 60 per cent interest in it, while the remaining 40 per cent is with IPR.
