Reliance reports fresh gas finds in east and west cost blocks
15 May 2007
Mumbai: Reliance Industries Ltd (RIL) has made two fresh discoveries of natural gas on the east and west coasts.
Reliance made its 18th discovery in the KG-D6 block (KG-DWN-98/3) in the Krishna Godavari basin off the east coast, when well KG-D6-R1 encountered two gas-bearing zones. Reliance also discovered natural gas and condensate in the block GS-OSN-97/1 off the west coast in Gujarat-Saurashtra basin.
GS01-B1 well flowed 18.6 million cubic feet a day of gas together with 415 barrels a day of condensate, the company said in a release.
Reliance is the operator of the block with 90 per cent interest, while Hardy Exploration of UK has the remaining 10 per cent.
The company is the operator of the KG basin block with 90 per cent interest, while Niko Resources of Canada holds the remaining 10 per cent. The block is estimated to hold in-place reserves of around 50 trillion cubic feet and oil reserves of one billion barrels.
The Mukesh Ambani-run firm plans to begin gas production from first two of the discoveries made in the block, that was awarded in the first round of bidding under the New Exploration Licensing Policy, in the second half of 2008.
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