India's largest private sector company Reliance Industries Ltd (RIL) has announced yet another discovery in exploratory block KG-OSN-2003/1 (KG-V-D3) of Krishna Basin.

The deepwater block KG-DWN-2003/1 of NELP-V is situated 45 Kms away from the coast and covers an area of 3288 Sq. Km.

This is the second gas discovery in this block and has been named as ‘Dhirubhai-41’. The company holds a 90 percent participating interest in the block, while Hardy Exploration & Production India holds a 10 percent stake.

The well KGVD3-B1 was drilled at a water depth of 711 m, to a total depth of 2730 m, with the objective of exploring high amplitude geobodies of Pliestocene deep water fan complex and unconformity related structural traps at Miocene level.

In the last quarter of this financial year (2007-08), RIL has made four discoveries, two in Krishna Basin Deep Waters, one in shallow waters of Krishna Basin and one in Mahanadi Basin.  

Shares of the company gained Rs 80.60, or 4%, to settle at Rs 2345. The total volume of shares traded was 1,049,158 at the BSE.