Reliance Industries Limited (RIL) has made its seventh oil discovery in exploration block CB-ONN-2003/1 (CB 10 A&B) in Cambay Basin, Ahmedabad, Gujarat.
The block was awarded to RIL under the NELP-V. RIL had earlier this month, made the sixth oil discovery in the basin.
"The discovery is significant, as it is expected to open more oil pool areas leading to better hydrocarbon potential within the block. RIL, as operator, holds 100 per cent participating interest in the block and is continuing further exploratory drilling efforts," RIL said in a press statement.
The block covers an area of 635-sq km in two parts, Part A and Part B. Of the 17 exploratory wells drilled in the block by RIL so far, 13 are located in Part A and the remaining 4 in Part B of the block.
"This discovery, named Dhirubhai–50, the seventh oil discovery in the block so far, has been notified to the Government of India and to the Director General, Directorate General of Hydrocarbons. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis," RIL added in the statement.
RIL scrip was up 1.92 per cent at Rs 1083.65 on the Bombay Stock Exchange.
