RIL Plans to Invest Over $5 bn in KG Basin

Reliance Industries chairman Mukesh Ambani has said that the company plans to invest over $5 billion in various projects to revive gas output from its flagship KG-D6 fields, offshore eastern India.

RIL and its British partner BP have submitted to the government plans to bring to production satellite fields in the eastern offshore KG basin block to raise output that has plummeted to less than 16 million metric standard cubic meters a day from about 64 mmscmd achieved three years ago, Presss Trust of India reported.

"We are planning to invest in a series of projects to develop around 4 trillion cubic feet of discovered natural gas resources from the block," PTI quoted Ambani as saying in company's annual report for 2012-13.

While RIL-BP have planned various activities including work-overs, side tracks and compressor addition to maximize recovery from the existing wells, new production would be added in four-five years using existing infrastructure, he said.