As Reliance Industries and its partner BP plc of the UK are working together, they may have been able to arrest the steep decline in output from their main gas field in the eastern offshore KG-D6 fields.
Tag: Reliance Industries
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Govt hopes for rise in KG-D6 output
As Reliance Industries and its partner BP plc of the UK are working together, they may have been able to arrest the steep decline in output from their main gas field in the eastern offshore KG-D6 fields. Sources in the Union Oil Ministry said that it was anticipated that the production from KG-D6 will drop to about 11 million standard cubic meters per day by October but that is not happening. The output is around 13.4 mmscmd and is unlikely to drop below 13 mmscmd, the sources added.
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RIL says DGH responsible for delay in D-6 block progress
Reliance Industries (RIL) has blamed the Directorate General of Hydrocarbons (DGH) for the delay in developing gas blocks in KG-D6 in Andhra Pradesh. DGH has asked RIL to give up 6,601 sq km out of the total 7,645 sq km area in the block on the grounds that the time line to develop the fields had expired.
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RIL targets Venezuela for its oil block investments
Executive Director of Reliance Industries (RIL) PMS Prasad has said that the company is looking at oil and gas investment opportunities overseas, particularly in Venezuela. The company has offers for at least from two exploration blocks from the country. RIL, which imports about 3,00,000 barrels of crude oil per day from Venezuela, also plans to increase the quantity, Prasad said in Delhi. It is exploring investment opportunities in Mexico, Iraq, Canada and Myanmar.
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RIL urges govt to hasten oil, gas project clearances
Over the Union government's excessive delays in giving regulatory clearances to its five key oil and gas projects worth $7.5 billion Reliance Industries has flagged the attention of special cell of the Prime Minister-led Cabinet Committee on Investment (CCI). If approved, these projects have the potential to produce about 30-40 million standard cubic metre per day (mmscmd) of gas, increasing the country's output by about 25 per cent in the next 4-5 years, industry executives said.
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Panel clears $4 bn investment plan of RIL, partners
At a recent meeting, a block management committee approved the proposed investment of $4 billion by Reliance Industries and its partners to produce natural gas from the D34 blocks in KG-D6 basin. The partners of RIL in this venture are BP Plc and Niko Resources. D34, which is part of the R-Series gas-field in the block, was declared commercially viable. R-serie
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Nod to Reliance, its partners to invest $4 bn in D-6 block
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.
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Investment: A legacy of perception?
An India-US Infrastructure Fund that was set up in 2010, but with the US recently lodging a formal complaint against India with World Trade Council on entry barriers to companies, things could be on wait-and-watch mode.
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Govt okays RIL-BP’s plan to invest $3.18 bn in KG-D6 block
A plan of Reliance Industries and BP has been approved by the Union government to invest $3.18 billion in R-series gas field in the KG-D6 basin in Andhra Pradesh, which is expected to produce up to 13 million standard cubic metre gas, said the government and industry officials. As per the approved plan, the field is estimated to hold about 1.2 trillion cubic feet of recoverable gas reserves.
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Govt to ascertain hoarding allegation against RIL
The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou