Adani Enterprises Updates on Gas Discovery by JV in Mumbai Offshore

Adani Enterprises Ltd on Thursday said that Adani Welspun Exploration has completed appraisal cum development of well in the B-9 contract area of Tapti-Daman Sector of Mumbai Offshore.

”This block was won by Adani Welspun under the Discovered Small Field round DSF-1. It may be noted that the B-9 field was discovered earlier by ONGC and 3 wells were drilled out of which 2 produced approx. 10 million cubic feet of gas per day during testing. It is relevant to note that this B-9 field is adjacent to the AWEL block MB-OSN-2005/2 for which potential commercial viability was announced on 15th May 2021,” the company said in an exchange filing.

Adani Welspun Exploration Limited is a joint venture company between Adani Group (65 per cent shareholding) and Welspun Enterprises Limited (35 per cent shareholding). Adani Welspun Exploration Limited (AWEL) in March had announced its first-ever gas discovery in the Nelp-VII block MB-OSN-2005/2 in the Tapti-Daman sector of Mumbai offshore basin. AWEL was awarded the block under the New Exploration Licensing Policy (Nelp) VII bid round.

The company said that the gas initially in place (GIIP) estimate is in the range of 85 billion cubic feet subject to completion of a detailed study. ”With these 2 adjoining blocks being gas bearing with associated condensate and the potential GIIP being in the range of 600 billion cubic feet, AWEL plans to work on its field development plan as a cluster which should improve the commercial viability of both the blocks,” the company added.

Stock Covered in the news

Adani Enterprises Ltd-View Detailed Analysis

Get Daily Prediction & Stocks Tips On Your Mobile

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More