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Cairn Energy India Pty Ltd has notified the Government of an oil discovery in the Nagayalanka well in the onshore block of the Krishna-Godavari Basin.
CEIL, as the wholly-owned subsidiary of Cairn India Ltd, holds 24 per cent as the operator of the block while the latter holds 25 per cent. The other joint venture consortium partner ONGC has 51 per cent stake.
While the testing process is underway, it holds both oil and gas. The company said further appraisal will be needed to establish the commerciality of the discovery.
Nagayalanka-SE is the second discovery in the Krishna Godavari (ONN-2003/1) block and its well is the second successive discovery well in this block by the Cairn-ONGC consortium. The Nagayalanka well was spud in November 2011 as an exploration well, to test the hydrocarbon potential of the Golapalli sands.
The extended second phase of exploration for the block ends in August 2012. The minimum work programme committed for the second phase has already been completed, the statement said.
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