Adani Welspun Exploration (AWEL), a joint venture between the Adani Group and Welspun Enterprise, has announced its first-ever gas discovery in its Block at the Tapti-Daman Sector of Mumbai Offshore basin.
AWEL got the Block, MB-OSN-2005/2 spread across 714.6 sq. km, during the seventh round of New Exploration Licensing Policy (NELP VII).
AWEL holds 100 percent participative interest (PI) and is the Operator of the Block.
“The pay zones and flow rates encountered have exceeded the company’s initial estimates. With the information gleaned from adjoining fields/areas, this discovery is of substantial significance for both the Company and the Nation,” the company said in a statement.
According to AWEL, early indications pointed to the occurrence of gas-bearing water bodies within the sandstone reservoirs of the Mahuva and Daman formations.
The drilling of the current well in March 2021 has confirmed the presence of substantial quantities of gas and condensate in the Block.
Speaking on the discovery, Sandeep Garg, Managing Director of AWEL, said, ”In addition to being value accretive for the Company, this discovery could be a significant breakthrough for our nation given India’s focus to nearly triple the share of natural gas in its energy mix by the end of this decade.”
He added that “the Company is also an operator with 100 per cent PI of an adjacent Discovered Small Field B-9 Cluster in this prolific gas-bearing zone. The proximity of these two prospective Blocks will enable AWEL to synergise and optimize the development of both the blocks.”
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