State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, the company said on Thursday without giving details of reserves found.
The discoveries, which have been named 'Amrit' and 'Moonga', were made in the blocks that the company won in recent open acreage licensing rounds.
In a statement, the firm said it "has made discoveries of oil and gas in MBS171HAA-1 (Amrit) in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea."
"There is another remarkable discovery in MBS182HDA-1(MBS182HDA-A) named 'Moonga' in OALP exploration Block in Mumbai Offshore."
ONGC said a detailed assessment of the discoveries was in progress.
"With these discoveries, ONGC continues its impressive streak in the OALP blocks by making new discoveries in consecutive years," it said.
ONGC Director (Exploration) Sushma Rawat said that with these notable findings in the OALP-I and OALP-III rounds, ONGC reaffirms its exploration commitment to unlocking the vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security.
"ONGC's relentless pursuit of exploring untapped regions yielded these finds. By diligently analyzing geological data and employing advanced technologies, ONGC successfully identified substantial oil and gas reserves, reaffirming the untapped potential within the OALP blocks," it added.