July 29, 2010: Gujarat State Petroleum Corporation (GSPC) is learnt to have struck a huge cache of gas in the Cambay basin of Gujarat. GSPC, in a joint venture with Australian exploration & production (E&P) company Oilex, has found around 20-22 trillion cubic feet (tcf) natural gas reserve, probably the biggest onshore gas find to date, sources in Gujarat. "The logs from data collected by drilling wells in the block show that we have probably run into 20-22 tcf of natural gas entrapped in the Cambay basin. However, it is geologically trapped gas in tight formation (difficult to extract commercially)," a state government official said on condition of anonymity. However, the corporation is not going to town with the discovery. A major reason behind the subdued excitement among the GSPC brass is the highly low recovery factor of its latest find. An industry expert said: "It being tight gas, the operational expenses to recover this gas would be higher. Also, the quantity recoverable could be much lower. GSPC-Oilex would be more than happy to commercially recover even 2 tcf of this find." Source: The Economic Times