A seventh discovery of oil has been made near Ahmadabad in the Cambay basin by Reliance industries. The discovery which has 410 barrels per day of oil flow rate has been named as ‘Dhirubhai 50’. Currently, the company has said that they are looking at the commercial interest that the discovery will hold.

The Cambay exploration block awarded to Reliance under the New Exploration Licensing Policy has witnessed over seven discoveries since November 2009, in the last eight months. 100% participating interest is held by RIL in the block which covers 635 square km.

RIL has explored as many as 17 wells and has plans to implement even more drilling efforts, even as the company is expecting the latest discovery to open up more pool areas. On Monday, RIL’s stock rose up to 1088 rupees, a good 2.33 percent. The block is known as CB-ONN-2003/1.

The block consists of two parts, Part A and Part B. Out of the 17 exploratory wells that Reliance has drilled, 13 are in Part A while 4 are in Part B. The discovery has been notified to Director General of the Directorate General of Hydrocarbons as well as to the Government of India. More data is being gathered now over the discovery to find out the commercial interest.