In the RFDP for MA field, RIL has scaled down the investment by $276 million to $1.96 billion
The Indian government has asked for certain clarifications on revised investment plan submitted by Reliance Industries Ltd (RIL) for its main gas producing fields in the eastern offshore KG-D6 block.
In a written reply to a question in Rajya Sabha, Panabaaka Lakshmi, minister of state for Petroleum & Natural Gas, said, "RIL and its partners BP plc of UK and Niko Resources in August 2012 had submitted revised field development plan (RFDP) for D1 & D3 fields with downward revision in reserves."
RIL had filed revised field development plans for the Dhirubhai-1 and 3 (D1 and D3) gas fields as well as D-26 MA oil and gas field -- the only producing areas among a total of 19 oil and gas discoveries made in KG-DWN-98/3 or KG-D6 block.
In the RFDP for MA field, RIL has scaled down the investment by $276 million to $1.96 billion. The RFDP for MA field has been approved.
Lakshmi said as per the 2006 development plan, D1 and D3 fields were to produce 61.88 million standard cubic metres per day (mmscmd) from 22 wells in 2011-12 and 80 mmscmd from 31 wells in the year thereafter.
"The average gas production from D1 and D3 gas fields of KG-D6 block during 2012-13 was about 20.88 mmscmd against the production target of 80 mmscmd," she said. Gas production in April was about 15.89 mmscmd.
The decline in gas output was due to half of the 18 wells put on production ceasing due to water loading/sand ingress.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )