Billionaire Anil Agarwal's Vedanta on Monday said it has made a natural gas discovery in a block in Gujarat that it had won in the open acreage licensing policy (OALP) round.
In a regulatory filing, the firm said it has "notified the DGH and Ministry of Petroleum and Natural Gas on August 23, 2021, of a gas and condensate discovery (named 'Jaya') in its exploratory well Jaya1 (earlier Jambusar-Updip-1), drilled in OALP Block CB-ONHP/2017/2 in Bharuch District of Gujarat."
The approval of the management committee has also been sought.
The block was awarded to the company in October 2018 and is one of the 41 areas awarded to it in OALP-I round of bidding.
The company holds 100 per cent participating interest in the block.
Jaya-1 (earlier Jambusar-Updip-1) is the third well drilled in Gujarat and the second hydrocarbon discovery notified by the company under the OALP regime.
"Further evaluation will be carried out to assess potential commerciality of the discovery," it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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