Oil India has made the first-ever natural discovery in the Andaman Sea, which is also the first discovery of any hydrocarbons in the basin. The size of the discovery, containing 87% methane, is yet to be established, but the company’s shares jumped by over 3% following the news. Oil India had drilled two exploration wells in the shallow-water field it was exploring, and struck gas in the second one, it said in a regulatory filing. “The discovery is a testament to the capability of Indian exploration efforts—this is the first such…
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