Gas Discovery on D9 Block

abarrelfullabarrelfull wrote on 23 Jun 2011 05:31
Tags: hardy india upstream

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Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company focused in India, is pleased to announce its first gas discovery in the exploration well KG-D9-A2 within the D9 licence.

The well KGD9-A2 was drilled to a total depth of 4,881 m MDRT with the objective of exploring the play fairway in the Early and Late Miocene Channel Levee Complex in a water depth of approximately 2,700 m. Three sand reservoirs with a gross thickness of approximately 22 m were encountered and evaluated by wireline MDT. This discovery, named 'Dhirubhai - 54' has been notified to the Government of India and DGH. The potential commerciality of this discovery is being ascertained through more data gathering and analysis. This play fairway is expected to cover a considerable area within the block.

The D9 exploration licence is located in the Krishna Godavari (KG) Basin on the East Coast of India and presently covers an area of approximately 8,695 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited. The licence's minimum work programme provides for the drilling of four exploration wells.

Commenting on the well results, Yogeshwar Sharma, Chief Executive Officer of Hardy said:

"We are encouraged by this discovery which extends the proven Miocene play fairway into the frontier D9 block. The discovery further enhances our understanding of the block's petroleum systems and reinforces our enthusiasm for unlocking its hydrocarbon potential. The D9 joint venture expects to drill the fourth exploration well prior to the end of 2011. "

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