The Union government has on August 29 gave its approval to Reliance Industries and its partners to invest $4 billion in the R-Series gas-field of KG-D6 block. BP Plc and Niko Resources are the Reliance Industries partners. R-series is a cluster of four discoveries in the block, of which, D-34 has been declared commercially viable.
The block management committee has revised the earlier investment of $3.18 billion to $4 billion as input costs have gone up. This discovery is estimated to hold an in-place reserve of 2.2 trillion cubic feet of gas, while recoverable reserves are estimated at 1.191 trillion cubic feet of gas.
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