Mukesh Ambani

Reliance Industries Ltd (RIL) had discovered oil in one of its exploration blocks, CB-ONN-2003/1, located on land in the Cambay basin. This is RIL’s fourth oil discovery in the region, says a press release from the company.

The block was awarded to RIL under the fifth round of the new exploration and licensing policy (Nelp). “The discovery is significant as this play fairway is expected to open more oil pool areas, leading to better hydrocarbon potential within the block,” said  the statement.

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