Oil India (OIL) Confirms Natural Gas at Vijayapuram-3 Well

AI Summary

Oil India (OIL) has identified natural gas at its third exploration well, Vijayapuram-3, located in 355m of water in block AN-OSHP-2018/1. This marks gas discovery in two out of three wells drilled in the region. Testing at Vijayapuram-3 showed continuous flaring and immediate pressure build-up after perforation, indicating gas production. The company is currently conducting further gas sampling and analyses to inform future exploration activities. The exploration campaign has also included the completion of 600km² of 3D seismic data acquisition.