Vedanta notified the management committee, DGH and Ministry of Petroleum and Natural Gas on 21 February 2022 of an oil discovery called Durga in its exploratory well WM-Basal DD Fan-1 drilled in OALP Block RJ-ONHP-2017/1 in Barmer dist., Rajasthan.
The approval of management committee has 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.
Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2,615 m MDRT. This is the third hydrocarbon discovery notified by the company under the OALP portfolio.
During the drilling of the well, four hydrocarbon zones were encountered in the Dharvi Dungar (DD) formation of Late Paleocene to Early Eocene age. "Further evaluation is being carried out to assess potential commerciality of the discovery," the press release stated.
On a consolidated basis, the diversified natural resources firm's net profit rose 26% to Rs 4,164 crore on 50% increase in net sales to Rs 33,697 crore in Q3 December 2021 over Q3 December 2020.
Shares of Vedanta skid 3.18% to Rs 342.45 on BSE. Vedanta Group is a global diversified group of companies with presence in metals, mining, oil & gas, power, telecom and glass. Vedanta Group has presence in electronics and technology business through group companies, Avanstrate Inc. and Sterlite Technologies.
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