From correspondents in Delhi, India, 09:33 PM IST

The state-run exploration company, Oil and Natural Gas Corp(ONGC), has made another hydrocarbon discovery in an offshore Krishna-Godavari block, it said Monday.

A company statement said three hydrocarbon bearing sands had been encountered between 3,757 metres to 4,185 metres. 'The thickest sand interval (4,108-4,185 metres) comprises 55 metres of net oil pay,' it said.

ONGC has already made several discoveries in KG basin, including the 2006 ultra-deep discovery at 2,841 metres.

The press statement said ONGC planned a fast-track hub development programme, clustering a mix of oil and new wells around a common production facility.

The target is for production of 20,000 barrels of oil per day by 2012-13, to a peak of 150,000 barrel daily by 2016-17.

(Staff Writer, © IANS)