The Oil and Natural Gas Corporation (ONGC) and Cairn India consortium has notified a major oil and gas discovery in the KG-ONN-2003/1 onshore block in Krishna Godavari basin off the East Coast with an estimated of 550 million barrels equivalent of in-place oil and gas reserves.
The discovery has been sent for approval to the Directorate-General Hydrocarbons (DGH). Once approved, it could prove to be higher than the Ravva fields, whose entire reserves are estimated at 400 million barrels equivalent of oil and gas. The oil discovery notified is in the Nagayalanka-SE-1 well in the offshore block.
