(EnergyAsia, August 29 2013, Thursday) — India’s Reliance Industries Limited (RIL) and UK major BP said they have jointly found new gas condensate reserves off the east coast of India in the Cauvery basin.

The deepwater block CY-DWN-2001/2 (CYD5) reserves, located 62 km from the coast in the Cauvery Basin, is the second gas discovery in the block, said operator RIL which holds a 70% stake in the project.

The partners said they drilled 5,731 metres into the CYIII-D5-S1 well which lies in a water depth of 1,743 metres, with the primary objective of exploring Mesozoic-aged reservoirs. The well data and fluid samples indicate the presence of gas condensate in the reservoir interval with a gross column of 143 metres.

The well, named D-56, initially flowed gas at the rate of 35.2 million standard cubic feet per day with condensate at the rate of 413 b/d, said the companies.

Reliance Industries Limited (RIL), India’s largest private sector company, reported revenue 3,711 billion rupees and net profit of 210 billion rupees for the last financial ended March 31, 2013. (US$1=67 rupees).