Cairn makes 2nd oil strike in AP

Cairn India on Tuesday said it has struck oil at Krishna-Godavari basin acreage in Andhra Pradesh, the second onland discovery by the company. Cairn Energy India Pty Ltd, a wholly-owned subsidiary of Cairn India Ltd, reported the discovery in Nagayalanka-SE-1 well in the onshore block identified as KG-ONN-2003/1, a company statement said.

CEIL is the operator of the block with 24% stake, while Cairn India holds 25%. The remaining 51% is with state-owned ONGC. Cairn did not give any estimate of reserves. "Further appraisal will be required to establish the commerciality of the discovery," it said. Nagayalanka-SE is the second find in the KG-ONN-2003/1 Block. The Nagayalanka SE-1 well was spud on November 25, 2011, as an exploration well to test the hydrocarbon potential of Cretaceous Golapalli sands