New Delhi: Upstream regulator Directorate General of Hydrocarbons (DGH) has approved commerciality of a significant oil find of state-owned Oil India Ltd in Rajasthan.
OIL had struck crude oil in the block RJ-ONN-2004/2 last year.
Sources said DGH after going through results of test done to establish the discovery, confirmed that the find was commercially viable and issued Declaration of Commerciality (DoC).
DoC is essential before any discovery can be development.
Sources said the discovery can produce a peak of 30,000 barrels per day.
OIL has named the discovery in the Rajasthan block as Punam-1. Block RJ-ONN-2004/2 lies in close vicinity of Cairn India's prolific Rajasthan oil block.
First Published: Tuesday, March 5, 2013, 19:19