Oil India discovers hydrocarbon gas in Assam, OIL shares still traded low

• OIL through its exploratory efforts has made one hydrocarbon discovery in the upper Assam Basin

• Oil India Limited gave this information in a regulatory filing to the stock exchange on Friday

New Delhi: Oil India Limited (OIL), India's second-largest national exploration & production company, through its exploratory efforts has made one hydrocarbon discovery at well Dinjan-1 in Tinsukia Petroleum Mining Lease (PML) in the upper Assam Basin during 1st half of FY 2020-21. This information has been shared by the oil PSU during a regulatory filing to the stock exchange on Friday.

"The discovery will open up new areas for further oil and gas exploration in Assam and would help in enhancing the gas production with future appraisal and development activities," the company further said.

"The well encountered multiple sands in Kopili, Narpuh and Lakadong + Therria formations with a total net pay of about 10 m. On testing, a 3-m Lk + Th sand at a depth of 3614 m, it produced gas @ 115,000 SCMD through 5 mm bean with FTHP – 3750 psi, it added.

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Oil India Limited (OIL)

Oil India Limited (OIL) is the second-largest hydrocarbon exploration and production public sector company with its operational headquarters in Duliajan (Assam) and corporate office in Noida. OIL is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of liquid petroleum gas. The company's history spans the discovery of crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated upstream petroleum company.

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