According to media reports, the union petroleum ministry prefers to weed out contentious issues with Reliance Industries (RIL) through negotiations rather than through legal means. It may be recalled that both the ministry and the company are locked in a dispute over recovering cost of developing KG-D6 basin from the revenue. RIL resorted to ar
Tag: basin
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RIL produces 22.04 mmscmd gas from KG-D6
A report from the Directorate General of Hydrocarbon (DGH) shows that natural gas output from Reliance Industries' KG-D6 field stood at 22.04 million standard cubic meters per day in the week ended December 30, 2012. The output belongs to Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 bloc
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OIL in the process of drilling wells in KG basin
Reports suggest that by the middle of 2013, Oil India (OIL) may start work on drilling wells in the KG Basin. OIL is said to be in advance stage of mobilising the rigs to the exploration site and the work is expected to by June-end or early July 2013. As part of its plan, the firm would drill three shallow wells and three deep water wells at a total cost of aro
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Output from RIL’s KG basin falls to 21 mmscmd
Reports suggest that natural gas output from D1, D3 and MA fields in Reliance Industries' (RIL) Krishna-Godavari basin stands at about 21 mmscmd after hitting a peak of 60 mmscmd in end-2009. Officials who are in the knowhow of the issue feel that
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Experts call for early solution on KG D6 issues
Industry experts suggest that the government, Reliance Industries and BP Plc work towards an early resolution of the issues holding up investments in Krishna-Godavari (KG)-D6 basin. They feel that improvement in production of natural gas from the basin is essential to meet the ever rising demand for the fuel in
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Gas output may decline in FY13
A recent report from the oil ministry shows that India's natural gas production may decline to around 104 mmscmd in 2012-13 from 114.90 mmscmd in the previous fiscal. The report attributes the possible decline in gas output mainly to the fall in KG-D6 output to 23 mmscmd from over 30 mmscmd last year. The report also expects a sharp rise in imports of lique
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CAG insists on its right to vet contractors’ documents
Comptroller and Auditor General (CAG) has asked oil ministry to ââŹËspecifically incorporateââŹâ˘ its right to audit contractor(s) relevant documents of contractors in the future production sharing contracts (PSC).In a letter to Petroleum Secretary, the CAGââŹâ˘s Director General (Commercial) II, P Sesh Kumar said the government auditor must have access to the books, accounts, records, documents and financial statements of co
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CAG warns ministry against clearing RIL plan
In a letter to the union petroleum ministry, the Comptroller and Auditor General of India (CAG) warned that any increase in capital expenditure by Reliance Industries (RIL) in its KG-D6 basin may have significant adverse impact on government's financial interests. Therefore, the CAG advised the ministry not to permit any investment plan by the company in the gas field unless RIL allows CAG unfettered access to audit its spen
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RIL bats for linking gas price to market
In order to encourage firms to produce natural gas from technologically challenging ultra deepsea, Reliance Industries (RIL) requested a committee headed by C Rangarajan to propose market-linked pricing.C Rangarajan, who is the Chairman of Prime Ministers' Economic Advisory Council, is heading a committee that is formed to examine terms of future contracts for explo
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Power plants may get KG D6 gas in rotation
Union Petroleum Ministry decided to allocate the scarce natural gas produced from the Reliance Industries' KG-D6 field on a rotation basis to power plant