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DGH seeks appraisal report in 60 days for commercial use

Virendra Pandit

Gandhinagar, July 7 In an important development, the State-owned Gujarat State Petroleum Corporation Ltd (GSPC) on Saturday announced having struck oil in a well, Miroli-1, in the Cambay and Olpad block, with an estimated production of 160 to 175 barrels per day at present.

The Director-General of Hydrocarbons (DGH), Government of India, has validated the discovery of oil in the block, GSPC said here on Saturday evening.

Oil was struck in Miroli-1, allocated to GSPC under NELP-IV, at a depth of 2,479 metres, Mr M.Y. Farooqui, General Manager (P&D), GSPC, told Business Line. Under NELP-IV, the Government of India had allocated the CB-ONN-2002/3 e xploration block to a joint venture consortium of GSPC, Jubilant, Geoglobal Resources, and Prize Petroleum, in February 2004.

He said exploration of 12 wells was undertaken in the first phase and oil was discovered in the very first well, Miroli-1. Earlier, GSPC had discovered oil in the Krishna-Godavari Basin in the coastal areas of Andhra Pradesh.

Mr Farooqui said GSPC has sent its testing report of the oil find to the Directorate General of Hydrocarbons, which has sought an appraisal report within 60 days for commercial production of oil. At the current level, Miroli-1 is estimated to yield between 160 and 175 barrels of oil daily, valued at up to $11900 or Rs 4.76 lakh per day.

Although GSPC has committed digging 12 wells in the oilfields, it may increase the number up to 20 wells once the full potential of the find became clear, he added. It will take a few months to ascertain this potential.

Congratulating GSPC, the Chief Minister, Mr Narendra Modi, said this was yet another step in the efforts being made to make Gujarat emerge as the “Gas Capital” of India.

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GSPC announces oil strike in Cambay Olpad block

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