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Detailed explanation-1: -The firm has found gas deposits in a block in Vindhyan basin in Madhya Pradesh that is now being tested, he said adding that the find is at 3, 000-plus meters. ONGC has drilled four wells after the discovery and will now hydro-frack it by the end of the year to test commerciality of the finds.

Detailed explanation-2: -The well is in the Son valley sector of Madhya Pradesh. On testing, the well-produced over 62, 044 cubic meters per day gas, thus confirming the production potential of Proterozoic Basin for the first time in India. Active exploration in the Vindhyan Basin began with the acquisition of seismic data in the late 1980s.

Detailed explanation-3: -These 7 basins are namely Krishna-Godavari (KG), Mumbai Offshore, Assam Shelf, Rajasthan, Cauvery, Assam-Arakan Fold Belt and Cambay.

Detailed explanation-4: -The Caspian Sea region is one of the oldest oil-producing areas in the world and is an increasingly important source of global energy production. The area has significant oil and natural gas reserves from both offshore deposits in the Caspian Sea itself and onshore fields in the Caspian basin.

Detailed explanation-5: -Recent estimates show that most of the world’s natural gas reserves are located in the Middle East, Europe, and the former U.S.S.R., with these reserves making up nearly 75 percent of total worldwide reserves.