Mumbai, May 10: Hindustan Oil Exploration Company Ltd (HOEC) has struck oil in onshore Cambay Basin near Palej, 52 kms from Vadodara, Gujarat. The company has found oil and associated gas bearing sands in block CB-ON/7 of Cambay Basin's Pramoda-1 well, HOEC informed the Bombay Stock Exchange here today.
Testing of sands at 1,815 metres resulted in flow of crude oil at 48 cubic metres per day, with a flowing pressure of 43 kg/cm2, the company said.
HOEC is evaluating the data obtained from the well to determine the commercial viability of the findings.
HOEC operates the block, along with Gujarat State Petroleum Coporation Ltd as its partner. Bureau Report