Reliance Industries' five-month-old oil discovery in Krishna Godavari Basin, off the Andhra coast, may contain about 55 million tonnes of recoverable reserves.
Reliance had struck oil in a block close to its gas rich D6 block in the same basin and preliminary estimates put the in-place reserves at close to a billion barrels, industry sources said.
Company official declined to comment.
India's regulator for upstream oil and gas exploration and production said Reliance made oil find about five months back and no new find has been reported.
"The oil find is yet to be declared commercial so I cannot say anything on reserves it hold," said V K Sibal, drector general of Hydrocarbons.
He said it was too early to make an estimation of reserves and an assessment of commerciality of the discovery can only be made once the find was tested.
Sources said Reliance had struck oil in its Dhirubhai-24 well and oil and gas in Dhirubhai-25 well in Block KG-OSN-2001/2. The Block was awarded to the company in the third round of bidding under the New Exploration Licensing Policy.
Dhirubhai-24 well floated 2,400 to 2,700 barrels of crude oil per day while Dhirubhai-25 floated 3,012 barrels of oil and 2.6 million standard cubic meters per day of gas.
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