Oil India Limited, through its filing on BSE, has informed that it has made 2 hydrocarbon discoveries in the Dumduma Petroleum Mining Lease (PML) in the Upper Assam basin during 2nd and 3rd quarter of 2017-18 through its exploratory efforts.
The first well discovery in South Chanmari-5 encountered multiple sands in Narpuh and Lakadong+Therria (LK+TH) formations of Eocene age. On testing, a 10m LK+TH sand at a depth of 4290m, produced gas at the rate of 50,000 scmd.
The second well discovery Hukanguri-2 encountered two zones, one each in Narpuh and LK+TH formation. On testing, a 18m Narpuh sand, produced oil at the rate of 55m3/d. Presently, the well is under extended production testing.
The oil discovery in Hukanguri-2 is the first commercial discovery in Narpuh formation. As per the company, this discovery will open up new avenues for exploration in Narpuh play in Upper Assam basin. Both these discoveries will help in enhancing the oil & gas production with future appraisal & development activities.
Oil India Limited is the second largest oil and gas exploration and production company in India. The stock closed at a price of Rs69.55, down by 1.7% on December 29, 2017.