Bharat Petroleum Corporation (BPCL), a wholly owned subsidiary of Bharat Petroleum Corporation, advises that Oil & Natural Gas Corporation (ONGC), operator of the on land block, CY-ONN-2002/2, in the Cauvery Basin, India has announced that they have successfully completed a production test in well MD # 5, to evaluate the potential of the unconventional Basement reservoir.

The well, MD #, was drilled down to a depth of 2175 m and tested barefoot in a gross interval of 500 m, which flowed gas at the rate of 61,800 cubic meters per day along with condensate at the rate of 9.6 cubic meters per day through 7 mm bean, from the Basement reservoir. The well MD-5 is located about 9 km towards east of Sirkhazhi town in Nagapattinam district, Tamilnadu. The discovery is now known as ''Thirunagari Gas Discovery'' after the name of the nearby village.

The first discovery in this block was in October 2012, when oil was discovered in the well Madanam-3, which is under appraisal. This discovery is envisaged to enhance the commercial viability of this block. ONGC is the operator of the block, CY-ONN-2002/2, with 60% interest in partnership with Bharat PetroResources, holding the remaining 40%.

Shares of the company gained Rs 5.85, or 0.92%, to trade at Rs 644.55. The total volume of shares traded was 26,944 at the BSE (11.02 a.m., Wednesday).