India's Block D6 May Add 3 tcf

Niko Resources has said in a statement that it will submit to the Indian government an integrated development plan for drilling out additional 3 trillion cubic feet (tcf) of natural gas from the D6 block by October 2012. The move is expected to add approximately one bcf of gas every day.

“Although domestic gas pricing has remained a major impediment to capital investment in India, Niko looks forward to positive statements the government has recently made as to a resolution of this issue,” Niko added.

The D6 block is held by Indian conglomerate Reliance Industries Limited in partnership with UK oil major BP. Niko has a 10% working interest.