Adani Welspun Exploration Ltd (AWEL), a joint venture between the Adani Group and Welspun Enterprises Ltd, announced its first-ever gas discovery in the Nelp-VII block MB-OSN-2005/2 in the Tapti-Daman sector of Mumbai offshore basin.
Adani Group holds 65 percent through its flagship company Adani Enterprises, while Welspun Group holds 35 percent through Welspun Natural Resources. AWEL holds 100% interest in the block spread across 714.6 sq km and is its operator.
“The pay zones and flow rates encountered have exceeded the company’s initial estimates. With the information gleaned from adjoining fields, this discovery is of substantial significance for both the company and the nation,” AWEL said.
Adani Group head Gautam Adani said the discovery will help take India closer to its target of becoming a gas-based economy. India is the world’s third-largest consumer of energy. But the share of natural gas in India’s current energy mix is just 6 percent, among the world’s lowest. We can triple this by 2030. Our discovery of gas in Mumbai Offshore’s Tapti-Daman sector will take us closer to this target, he tweeted. AWEL was awarded the block under the New Exploration Licensing Policy (Nelp) seventh bid round.
“The company is also an operator with 100% interest 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 synergize and optimize the development of both the blocks,” said Sandeep Garg, managing director, AWEL.
The drilling of the current well in March 2021 has confirmed the presence of substantial quantities of gas and condensate in the block.
AWEL currently operates two Oil and Gas blocks in the Mumbai Offshore Basin. The other Block, MB/OSDSF/B9/2016, is under fast-track development and was won under the discovered small fields bid rounds. AWEL said there are three gas discoveries and one oil discovery in this block.
AWEL also has up to 30 percent participating interest in two discovered hydrocarbon blocks operated by Oil and Natural Gas Corporation (ONGC) in the Gulf of Kutch. Both these blocks are currently in the appraisal phase. There have been two gas discoveries in the Kutch Block 1 and one gas discovery in Kutch Block 2 till now.