Adani Enterprises Ltd had earlier announced about the gas discovery in Mumbai Offshore's Tapti-Daman Sector by Adani Welspun Exploration Limited ("AWEL"), a joint venture company between Adani Group (65% shareholding) and Welspun Enterprises Limited (35% shareholding).
AWEL has completed an appraisal cum development of well in the B9 contract area of Tapti-Daman Sector of Mumbai Off shore. This block was won by AWEL under the Discovered Small Field round DSF-1. It may be noted that B-9 field was discovered earlier by ONGC and 3 wells were drilled out of which 2 produced approx. 10 million cubic feet gas per day during testing. It is relevant to note that this B-9 field is adjacent to the AWEL block MB-OSN-2005/2 for which potential commercial viability was announced on 15th May, 2021.
The reservoir has been cored and is being subjected to advanced studies to ascertain the potential of the reservoir and the field. The gas initially in place (GIIP) estimate is in the range of 85 billion cubic feet subject to completion of detailed study.
With these 2 adjoining blocks being gas bearing with associated condensate and the potential GIIP being in the range of 600 billion cubic feet, AWEL plans to work on its field development plan as a cluster which should improve the commercial viability of both the blocks.
Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.1594.45 as compared to the previous close of Rs. 1636.25. The total number of shares traded during the day was 602692 in over 20875 trades.
The stock hit an intraday high of Rs. 1655 and intraday low of 1572.4. The net turnover during the day was Rs. 970356141.
Shares of Welspun Enterprises Ltd was last trading in BSE at Rs.122.5 as compared to the previous close of Rs. 125.25. The total number of shares traded during the day was 135681 in over 2620 trades.
The stock hit an intraday high of Rs. 128 and intraday low of 121.2. The net turnover during the day was Rs. 16923899.