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Reliance strikes oil off TN coast

NEW DELHI: Reliance Industries, which gave the nation its largest gas field, has discovered crude oil reserves in a block off the Tamil Nadu coast.

Reliance made a significant oil discovery in the very first well it drilled in the Cauvery basin block CY-DWN-2001/4, also known as CY-D5. “It is a medium-sized discovery,” a source familiar with the development said.

The well flowed about 600 barrels of oil a day during the tests. “The reserves are being ascertained,” the source said.

Reliance had won the CY-D5 block in the third round of auction under the New Exploration Licensing Policy (NELP). The company had only last month announced an oil discovery in the deep water block KG-DWN-98/1 (KG-D4) located in the Krishna Basin. This was the first time an oil discovery has been made in the Krishna deep-water basin.

Reliance a few years ago discovered gas in the KG-DWN-98/3 (KG-D6) block in the Krishna-Godavari basin off the Andhra coast. This block is now assessed to hold 50 trillion cubic feet of in-place reserves. — PTI

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