Jubilant Energy labels Indian discovery as commercial

Jubilant Energy, the AIM-listed hydrocarbon group, has achieved an important milestone at its Tripura project in India with a 'Declaration of Commerciality' (DoC) having been submitted for the Kathalchari gas discovery.

The company, which owns a 20% interest in Tripura, is now awaiting approval from the Directorate General of Hydrocarbons, after which it will submit a field development plan to the government.

Tripura is located in the fold belt area of the Assam-Arakan Basin in north-eastern India, the country's oldest producing basin with some of its largest producing fields. While Jubilant is the operator, GAIL India holds the remaining 80% stake in the block.

The Kathalchari discovery was first made in the Tripura block in late 2009 with the phase-1 exploration well Kathalchari-1 (KL-1).