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    RIL to Give Up 56% of KG D6 block

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Summary

Reliance Industries Ltd (RIL) is expected to give up about 56% of the 'low prospectivity area' in its eastern offshore KG-D6 block to retain only the portion where oil and gas discoveries have been made.

by: shardul

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Asia/Oceania

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RIL to Give Up 56% of KG D6 block

Reliance Industries Ltd (RIL) is expected to give up about 56% of the 'low prospectivity area' in its eastern offshore KG-D6 block to retain only the portion where oil and gas discoveries have been made, Press Trust of India said.

Only 3,412 sq kms of area'out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block will be retained, Press Trust of India quoted the company as saying. The area RIL intends to retain contains 18 gas discoveries and one oil discovery including the currently producing Dhirubhai-1 and 3 (D1&D3) gas and MA oil and gas fields.

RIL said it has submitted to authorities revised field development plans for D1&D3 as well as D26 or MA fields that include work-overs and facility upgrade to improve gas production. 'The next wave of projects to exploit the undeveloped discovered resources (will be) targeted over the next 3 -5 years,' it said.

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