India’s Reliance Ind finds more oil in Cambay basin

Reliance Industries (RELI.BO) has discovered more oil on India’s western coast, raising the potential of exploratory blocks it has been drilling.

The press release is quoted as saying:

This is the seventh oil discovery by the company in the region. The potential commercial interest of the discovery is being determined through more data and analysis. The company also said it is continuing further exploratory drilling efforts in the block, and it had informed the Indian government about the latest discovery. Reliance holds a 100 percent participating interest in the block, and has so far drilled 17 exploratory wells in the block that covers an area of 635 square kilometres.

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