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RIL to invest $5.9 bn in 9 discoveries in KG-D6 block: DGH

RIL to invest $5.9 bn in 9 discoveries in KG-D6 block: DGH
PTI
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First Published: Thu, Apr 02 2009. 05 16 PM IST
Updated: Thu, Apr 02 2009. 05 16 PM IST
New Delhi: Reliance Industries Ltd. has proposed to invest $5.91 billion (about Rs29,800 crore) in developing nine more discoveries in its prolific eastern offshore KG-D6 block, the oil regulator DGH has said.
“The development covering 9 satellite discoveries was submitted to the Management Committee (by RIL) in July 2008... we have yet taken a view,” Directorate General of Hydrocarbons director general V K Sibal said.
The discoveries are proposed to be tied-up with Dhirubhai -1 and 3 finds, which began gas production on Wednesday evening.
RIL and its Canadian partner Niko Resources is investing $8.836 billion in producing 80 million cubic meters per day of peak output from Dhirubhai-1 and 3, the first two of the 18 gas discoveries in KG-DWN-98/3 or KG-D6 block.
“There has been a global downturn but we will decide on the development plan in due course,” he said. The field development plan (FDP) for the nine satellite discoveries envisages first gas production from the 2.2 Tcf of reserves they hold in 2013.
RIL has submitted development plan for Dhirubhai 2, 4, 6, 7, 8, 16, 19, 22 and 23 discoveries. Five other discoveries are under appraisal phase, which is typically of about three years duration. Dhirubhai 1 and 3 are estimated to hold 10.03 Tcf of reserves and the whole of KG-D6 block about 40 Tcf.
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First Published: Thu, Apr 02 2009. 05 16 PM IST
More Topics: RIL | Reliance Industries | Oil | Gas | KG Basin |