Vedanta strikes gas in KG block

The international mining major announced that the company has discovered hydrocarbon gas in a well A3-2 located in the Krishna-Godavari basin.

This is the first exploration well within Vedanta's KG-OSN-2009/3 block, said the company in filing to the exchange on Thursday. Vedanta has 100 per cent participating interest in the block. Multiple reservoir zones were found between the depths of 3351-3944m MDBRT. Further assessment will be carried out to test the commerciality of this discovery.

Vedanta is a diversified mining company involved in producing oil & gas, zinc, lead, silver, copper, iron ore and aluminium. The company operates in India, Ireland, Australia, South Africa and Namibia.

In early trade on Friday at 9:30 hours, the stock of Vedanta Limited was trading at Rs. 228.00 per share, up by 1.90 per cent on BSE, when the benchmark index BSE Sensex was at 37,926.73, up by 208.77 points or 0.55 per cent.