New Delhi: The Oil and Natural Gas Corporation (ONGC), a state-owned enterprise, has announced new oil and gas finds in the Mumbai Offshore hydrocarbon basin, which are anticipated to boost the production capabilities of the company in the near future.

The newly discovered sites, named 'Suryamani' and 'Vajramani', were located in blocks allocated under the Open Acreage Licensing Policy (OALP), as per a statement released alongside its quarterly financial results for January to March.

During testing in the January-March quarter, exploratory well MBS202HAA-1 in Block MB-OSHP-2020/2 produced 2,235 barrels of oil and 45,181 million cubic meters of gas daily.

ONGC noted, "This marks the first discovery in Basal Clastics within OALP Block MB-OSHP-2020/2. The success of well MBS202HAA-1 has been recognized as a New Prospect Discovery and has been named 'Suryamani'."

In the current quarter, a second zone was tested in the same well, yielding 413 barrels of oil and 15,132 cubic meters of gas daily.

The statement further elaborated, "This hydrocarbon success in the Mukta Formation was encountered for the first time in OALP Block MB-OSHP-2020/2 and has been classified as a New Pool Discovery of the Suryamani prospect. Additionally, exploratory well MBS181HNA-1 in OALP-III Block MB-OSHP-2018/1 Mumbai produced 2,122 barrels of oil and 83,120 cubic meters of gas daily during testing."

ONGC described this discovery as an independent fault-bounded nosal feature located in the western section of block MB-OSHP-2018/1, and it has been designated as a New Prospect Discovery called 'Vajramani'.

Beyond the Mumbai offshore area, ONGC also reported another hydrocarbon find in the KG basin land block during the January-March quarter.

The exploratory well Yandapalli-1, drilled to a depth of 3,958 meters in the Malleswaram PML within the onshore sector of the KG Basin, uncovered oil and gas reserves, as stated by ONGC.

This success at well Yandapalli-1 has also been recognized as a New Prospect discovery.

These discoveries come at a crucial time as India's oil and gas imports have been on the rise, largely due to the aging fields operated by ONGC. Currently, approximately 85% of the nation's oil needs are fulfilled through imports.