Reliance Industries (RIL) has submitted to the government a proposal to relinquish low prospectivity area in its eastern offshore KG-D6 block, the company informed this in an investor presentation.
Out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block, only 3,412 square kilometer of area will be retained, the firm said.
Including the currently producing Dhirubhai-1 and 3 (D1&D3) gas and MA oil and gas fields, there are 18 gas and one oil discoveries in the area that RIL intends to retain.
The revised field development plans for D1&D3 as well as D26 or MA fields have been submitted by the company to authorities. The plan includes work-overs and facility upgrade to improve gas production.
Over the next three-five years, the company plans to exploit the undeveloped discovered resources in the next wave of projects.
Of the remaining finds, the government had last year approved field development plan for four smaller discoveries and the company has submitted investment plans for another cluster known as R-Series.
The company would submit investment plans for other satellite (D29, D30 and D31) once upstream regulator DGH approves their commerciality.
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