Adani Welspun Exploration Ltd (AWEL), announced its first ever gas discovery in Nelp-VII block MB-OSN-2005/2 in the Tapti-Daman sector of Mumbai offshore block. AWEL is a joint venture between the Welspun Enterprises Ltd and Adani Group.
AWEL holds 100% interest in the block and is the operator of the block. Spread across an area of 714.6 sq km, the block is situated in the prolific gas-prone Tapti-Daman sector of Mumbai Offshore basin where production is already underway by another operator/other operators.
"The pay zones and flow rates encountered have exceeded the company’s initial estimates. With the information gleaned from adjoining fields/areas, this discovery is of substantial significance for both the Company and the nation," said AWEL in a press statement.
AWEL was awarded the block under the New Exploration Licensing Policy (Nelp) VII bid round. Early indications pointed to the occurrence of gas-bearing reservoirs within the sandstone reservoirs of the Mahuva and Daman formations.
Sandeep Garg, MD AWEL, said, "In addition to being value accretive for the company, this discovery could be a significant breakthrough for our nation given India’s focus to nearly triple the share of natural gas in its energy mix by the end of this decade."
He added that “the Company is also an operator with 100% PI of an adjacent Discovered Small Field B-9 Cluster in this prolific gas bearing zone. The proximity of these two prospective Blocks will enable AWEL to synergise and optimize development of both the blocks."
The drilling of the current well in March 2021 had confirmed the presence of substantial quantities of gas and condensate in the block.
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