Vedanta Limited has said that it has notified the Management Committee, Ministry of Petroleum and Natural Gas and Directorate General of Hydrocarbons (DGH) of a hydrocarbon Discovery in well A3 - 2 within its operated block KG - OSN - 2009/3 within Krishna - Godavari Basin, East Coast of India.
Vedanta Limited holds 100 per cent participating interest in the block. A3 - 2 is the first exploration well drilled within the KG - OSN - 2009/3 block. Multiple reservoir zones were encountered in the Mesozoic rift formation between the depths of 3351 - 3944m MDBRT with indications of hydrocarbon during drilling and formation evaluations. Down hole formation tester (MDT) sampled oil and gas from the zones of interest. The zone from 3610 - 3715m MDBRT flowed gas to surface during well testing. Further appraisal will be required to assess the potential commerciality of this Mesozoic rift discovery.
Meanwhile, shares of the company were trading at Rs 227.35 apiece up 1.61 per cent from the previous close at 10:04 hrs on BSE.