As fears of a widening global oil crisis loom large amid geopolitical tensions and supply concerns due to teh West Asia conflict, state-run Oil India Limited has announced a fresh natural gas discovery in Rajasthan's Dandewala field, a development that could strengthen India's domestic energy prospects.
The company said the well recorded an average inflow of 25,000 standard cubic metres per day (SCMD) of natural gas from a depth of around 950 metres, signalling encouraging production potential.
The development is likely to keep Oil India's shares in focus on Monday. The stock closed 0.61% lower at Rs. 500.45 on Friday, as compared to 0.27% uptick in the benchmark Nifty 50.
Oil India described the discovery as the first successful establishment of gas presence in the shallower Sanu Formation in the Dandewala field, opening up a new exploration play in the region.
The PSU said the breakthrough validates its strategy of revisiting untapped subsurface opportunities through targeted technical interventions and a “missed opportunities” approach.
According to preliminary assessments based on structural and petrophysical analysis, the field may hold nearly 75 million standard cubic metres (MMSCM) of gas in place.
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The company said the finding significantly improves the overall prospectivity of the Dandewala block and could support future appraisal and development activities aimed at scaling up production.
The announcement is likely to keep Oil India shares in focus as investors track domestic exploration gains at a time when energy security has become a key strategic concern for India.
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