Reliance discovers oil in Cambay basin

Mukesh Ambani-led Reliance Industries on Tuesday said it has made the first oil discovery at an exploratory block in the Cambay basin

Reliance Industries' KG-D6 facility World's top oil exporting countries World's top 10 oil producers World's largest refining companies

in Gujarat.

The company has found oil for the first time in the exploratory block 'CB-ONN-2003/1', it said in a filing to the Bombay Stock Exchange.

RIL holds 100 per cent participating interest in the block in the Cambay basin, which was awarded under fifth round of the New Exploration Licensing Policy (NELP). The block covers 635 square kilometres.

"The discovery, named 'Dhirubhai-43' has been notified to the Government of India and Directorate General of Hydrocarbons. Commerciality of this discovery is being ascertained through more data gathering and analysis," the filing said.

In October, Reliance Industries had surrendered 14 blocks back to the government after incurring an expenditure of Rs 1,400 crore in unsuccessful exploration.