Adani Welspun Exploration (AWEL), a joint venture between the Adani Group and Welspun Enterprises, announced its first ever gas discovery in the NELP-VII block MB-OSN-2005/2.
AWEL holds 100% participative interest (PI) and is the operator of this block. Spread across 714.6 square km, the block is located in the prolific gas-prone Tapti-Daman sector of Mumbai Offshore basin where production is already underway by another operator/other operators.The pay zones and flow rates encountered have exceeded the company's initial estimates. With the information gleaned from adjoining fields/areas, this discovery is of substantial significance for both the company and the nation.
AWEL was awarded the block under the New Exploration Licensing Policy VII bid round. Early indications pointed to the occurrence of gas-bearing reservoirs within the sand stone reservoirs of the Mahuva and Daman formations.
The drilling of the current well in March 2021 has confirmed the presence of substantial quantities of gas and condensate in the Block. Out of the three potential zones identified during drilling, two objects tested by Drill Stem Testing (DST) flowed substantial gas and condensate to the surface. Object-I (3m), a clean sandstone reservoir, flowed 9.7 million standard cubic feet per day (mmscfd) of gas along with 378 barrels/day of condensate through a 28/64 choke at a flowing tubing head pressure (FTHP) of 2659 psi. Object-II (15m), another thick clean sandstone reservoir, flowed 9.1 mmscfd of gas along with 443 barrels/day of condensate through a 28/64 choke at a FTHP of 2566 psi.
Shares of Welspun Enterprises gained 1.67% to Rs 82.30 while shares of Adani Enterprises slipped 1.14% to Rs 886.55 on BSE.
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