13th Sep 2018 17:01
LONDON (Alliance News) - Vedanta Resources PLC on Thursday said its subsidiary made a hydrocarbon discovery in well A3-2, located within Krishna-Godavari basin in India.
The mining company said A3-2 is the first exploration well drilled within the block.
Vedanta said hydrocarbon was identified in the Mesozoic rift formation between the depths of 3,351 meters and 3,944 meters.
In parallel, the company said it sampled oil and gas from the zones between 3,610 meters and 3,715 meters of depth during well testing.
Vedanta noted that it requires further appraisal to assess the potential commerciality of the Mesozoic rift discovery.
Shares in Vedanta closed 0.6% lower on Thursday at 830.20 pence each.