RIL hits pay dirt with KG basin gas find
In what is being termed as India’s biggest gas find ever, Mukesh Ambani led Reliance Industries Ltd (RIL) along with UK’s BP Plc and Canada’s NIKO announced a discovery in the KG-D6 block, situated off the eastern coast of India in the Bay of Bengal.delhi Updated: May 25, 2013 02:35 IST
In what is being termed as India’s biggest gas find ever, Mukesh Ambani led Reliance Industries Ltd (RIL) along with UK’s BP Plc and Canada’s NIKO announced a discovery in the KG-D6 block, situated off the eastern coast of India in the Bay of Bengal.
The KG-D6 block, discovered in 2002, is India’s largest gas producing block. This deepwater block is spread across thousands of square kilometers in the Krishna and Godavari river basins in Andhra Pradesh and is currently producing gas from two of its fields --D1 and D3. While RIL holds a majority stake of 60% in the block, BP holds 30% and NIKO the remaining 10%.
“This is a significant gas and condensate (oil) discovery in the KG D6 block off the eastern coast of India and is situated 2000 meters further below the already producing D1 and D3 gas fields,” a senior RIL official told HT.
An RIL statement said the discovery has been named D-55 and has been notified to the government. The well flowed 30.6 million standard cubic feet per day of gas during testing.
Simply put, the rate at which the well flowed gas and liquid suggests that the discovery is a major one.
Although RIL-BP-Niko did not put any reserves to the discovery, industry sources said this D-55 gas discovery may possibly be the largest single discovery in the country. There are in all 18 gas finds already been notified by RIL in the KG-D6 block of which D1 and D3 are the largest.
“We shall embark on the appraisal program in the next few months to evaluate the options for developing this discovery,” said PMS Prasad, Executive Director and director on board RIL.
“This is a great example where BP, Reliance and the Indian government have worked together as a partnership to make this possible…we brought our process and discipline to explore this prospect in the deep water basin in India,” said Sashi Mukundan, Country Head, BP India.