Reliance Industries has slapped an arbitration notice challenging the Oil Ministry´s decision to take away 814 square km (sq km) of its eastern offshore KG-D6 area that contained five gas discoveries. As per the norm of giving up non-discovery areas, RIL had in 2013 offered to give up 5,385 sq km out of a total 7,645 sq km area in the Krishna-Godavari basin of the KG-D6 block. But the Ministry on October 30, 2013, ordered 6,198.88 sq km of total area to be taken away as the time allocated for producing from these had expired.
RIL on January 14 challenged this order stating the 814 sq km of additional area that the Ministry had taken away contained five gas discoveries holding close to 1 trillion cubic feet of reserves.
RIL challenges Govt´s decision on gas discovery
Leave a Reply
You must be logged in to post a comment.