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Cairn strikes oil in KG basin onshore

Special Correspondent

MUMBAI:Cairn India on Monday said it had struck oil and gas at a block in the Krishna-Godavari basin, off Andhra Pradesh coast.

Cairn India has informed the Bombay Stock Exchange that Cairn Energy India Pty Ltd. (CEIPL), a wholly owned subsidiary of Cairn India Ltd., has notified the Directorate General of Hydrocarbons (DGH) of a discovery of oil and gas in the Nagayalanka-1z well, located in the onshore block KG-ONN-2003/1.

The block is situated in the Krishna-Godavari basin and was awarded under the NELP V bidding round. CEIPL, the operator of the block, has a 49 per cent participating interest in the block and ONGC holds the balance 51 per cent participating interest.

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