Oil India Strikes Natural Gas in Shallow Offshore Basin

State explorer Oil India Limited (OIL) has found natural gas in a previously unexplored formation in the shallow Krishna-Godavari Basin, the Indian company said on Friday. OIL has made the discovery at the Godavari-1 appraisal well in the Matsyapuri formation in the Krishna-Godavari Basin off India’s east coast, recording a peak test flow of 200,000 standard cubic meters per day (SCMD). The company, however, did not reveal an estimate of the potential reserves it had encountered. OIL is now preparing to test the next zone in the basin for…