Financial Daily from THE HINDU group of publications Friday, May 26, 2006 |
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Corporate
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Announcements Industry & Economy - Petroleum Focus Energy discovers gas in Rajasthan Our Bureau
New Delhi , May 25 Focus Energy Ltd, formerly known as Phoenix Overseas Ltd, has recorded a significant gas discovery in its onshore Rajasthan Block RJ-ON/6 in well SGL-1. This is a pre-New Exploration Licensing Policy (NELP) block, a company official said, adding that the find is on the same stratigraphic trend as the fields in Pakistan producing multi-trillion cubic feet. According to the company, this is the first major stratigraphic discovery made with excellent gas quality on the Indian side. Focus Energy is the operator of the block of the exploration block. The company has also informed the Directorate General of Hydrocarbons (DGH) about the discovery.
First ONLAND discovery
This is the first large onland gas discovery, the company said. The earlier large gas discoveries have been mostly in the offshore. The cost of the transportation of the gas to the market is expected to be less in this block, it added. Further, the company said, the discovery was made in excellent cretaceous reservoir sandstones at a depth of 3,100 m. The well produces 15 million standard cubic feet per day (mmscf/d) of almost pure methane gas. The discovery of the gas has been confirmed through conventional open-hole drill stem test. Focus Energy hopes that the discovery would be commercialised at the earliest. It has plans to drill deeper into the well as the deeper zones may have larger reserves upside potential than the tested discovery interval.
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