Indus Gas (AIM:INDI), the oil & gas exploration and development company with assets in India, reported that the Management Committee of Block RJ-ON/6 had upgraded the commercial scenario for the SGL gas discovery.
Following the analysis of new 3D seismic data, the Management Committee approved an 100% gross increase in the original gas in place estimate to 328 billion cubic feet, with Proven plus Probable well head gas reserves of 246 billion cubic feet.
Ajay Kalsi, CEO of Indus Gas said the company’s understanding of the block continues to improve: “Our understanding of the Block continues to improve and I am pleased that our partners and the Government have approved these additional reserves based on new 3D seismic data. We shall continue our active drilling campaign and expand our seismic coverage of identified prospects and leads as we move existing discoveries towards production next year”.