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Thursday, Nov 14, 2002

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Niko strikes gas

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NIKO Resources Ltd, Canada, has made the first discovery in the blocks awarded under the second round of the New Exploration and Licensing Policy (NELP II).

The discovery of gas has been made in the onland block CB-ONN-2002/2 near Surat in Gujarat, according to the Petroleum Minister, Mr Ram Naik.

The second discovery of hydrocarbons comes within a fortnight after a major gas discovery by a consortium of Reliance Industries Ltd and Niko Resources Ltd in the Krishna-Godavari deepwaters under NELP I.

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