Oil & Gas exploration and production company, KEI-RSOS Petroleum & Energy, has secured two oil and gas blocks in the Krishna Godavari (KG) Basin.

The company obtained the blocks from the Union petroleum and Natural gas ministry.

The two blocks allotted to the company together hold reserves of over 1,400 million barrels of oil and 35,000 million standard cubic feet of gas.

The KG basin, is a peri-cratonic passive margin basin in India. The basin that is formed at the boundary of continental crust and oceanic crust, is referred to as a peri-cratonic basin.

The basin is spread across more than 50,000 square kilometers in the Krishna river and Godavari river basins in Andhra Pradesh.

The bidding rounds were launched in May last year.

Allotment of these blocks was part of the discovered small field in global bids.

Last week, the blocks were allotted under revenue sharing model.

Currently operating five marginal gas fields in the KG Basin, the company supplies the gas to industries.

By Supraja