Further work to define the reservoir characteristics of the Oligocene OS II sandstone and the Eocene EP IV sandstone on both the Western High Trend and the eastern flank of the field has boosted in-place oil reserves by 48% from 29 to 43 million barrels.

In-place gas reserve estimates have also increased 409% from 34 to 173 billion cubic feet, according to the Perth-based company.

About 52 bcf of gas has already been produced from the eastern flank area. This area alone is now estimated to contain a potential 16 to 108 million bbl of in-place oil and from 105 to 432 bcf of in-place gas.

Depending on equipment availability, drilling is expected to begin on the Cambay Field in the second half of next month.

The first drilling phase will comprise two “optimally” located wells, designed to intersect the possible oil leg on the western high structure.

In April, Oilex announced it was increasing its participating interest in the Cambay Field from 30% to 45%.

The company, which will act as operator, is in partnership with Indian partner Gujarat State Petroleum.