Reliance Industries Ltd. (RIL) and its partner BP have said that they have discovered a new gas condensate off the east coast in the Cauvery basin. The discovery has been named D-56. “The discovery, in the deep water block CY-DWN-2001/2 (CYD5), is the second gas discovery in the block,’’ a release said.RIL is the operator with 70 per cent equity and BP has a 30 per cent share. Well CYIII-D5-S1 was drilled in a water depth of 1,743 meters, to a total depth of 5,731 meters, with the primary objective of exploring Mesozoic-aged reservoirs,” RIL said in a statement on Friday.

The company said preliminary evaluation of well data and fluid samples indicated presence of gas condensate in the reservoir interval with a gross column of 143 meters.

“The well, which had the initial reservoir pressure of 8000 psi, flowed gas at the rate of 35.2 million metric standard cubic feet per day with condensate at the rate of 413 barrels per day through 52/64 choke during DST. Well flow rates during such tests are limited by the rig and well test equipment configuration,” the release added.

RIL shares rise

RIL and BP have notified the discovery to the Government and the Directorate-General of Hydrocarbons.

RIL stock prices started moving up to finally close with a gain of 1.64 per cent at Rs.819.05 on the BSE.

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