Natural Gas World
  • Natural Gas News

    Reliance to Invest $700 Mn in Shale Gas Ventures

    old

Summary

Reliance Industries (RIL) will invest up to $700 million in its shale gas venture in the current fiscal.

by: shardul

Posted in:

Asia/Oceania

Print This Article

Reliance to Invest $700 Mn in Shale Gas Ventures

Reliance Industries (RIL) will invest up to $700 million in its shale gas venture in the current fiscal, reports Press Trust of India, a news agency.

“We will invest $600—700 million in the shale gas venture. This figure has almost become into a yearly run rate now...we hope to open around 125 to 175 new wells during the year,” RIL Chief Financial Officer Alok Agarwal told reporters in Mumbai on Friday.

The shale gas business grew significantly during the year and has become a material contributor to earnings, reports Press Trust.

RIL is a partner in the shale resource base of Marcellus and Eagle Ford Shale gas plays in the US, through its three joint ventures with Chevron, Pioneer and Carrizo

Agarwal said that the company would focus on improving production from KG-D6 gas block in the current fiscal.

 

 

 

Related Articles