State-run Oil and Natural Gas Corp will invest around $15 million in developing Chinnewala Tibba oil and gas discovery in Jaisalmer district of Rajasthan.

"We have made a significant sweet gas discovery in Chinnewala Tibba in Rajasthan, which we plan to develop in the next one and half years," ONGC chairman and managing director Subir Raha said in New Delhi.

Testing indicates presence of sweet gas with more than 7,000 Kcal per cubic meter calorific value, against usual range of 1250 to 3100 Kcal per cubic meter in other gas finds in Rajasthan.

Subsequently, good quality heavy oil has been found in the same block.

Raha said ONGC intends to continue investing in oil and gas exploration in the state. The company has demobilised a drill rig from the state to refurbish it, and will deploy two rigs soon for drilling four additional wells in the block.

"We have no intention of withdrawing from the state and are committed to bringing gas to production," he said.

ONGC director (exploration) Y B Sinha said 3D seismic survey and exploratory drilling have been accelerated in the state. "3D seismic surveys are being carried out on 100 sq km area in Chinnewala Tibba this fiscal, based on which one more rig (besides the one sent for refurbishment) will be deployed for drilling."