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Reliance’s oil find in KG basin holds 140 million barrels

Reliance’s oil find in KG basin holds 140 million barrels
PTI
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First Published: Thu, Apr 26 2007. 06 01 PM IST
Updated: Thu, Apr 26 2007. 06 01 PM IST
New Delhi: Reliance Industries Limited’s oil find in its prolific KG-D6 block in Krishna Godavari basin off the east coast holds an estimated 140 million barrels of oil reserves.
The consortium of Reliance Industries and Niko Resources of Canada discovered oil in the block KG-DWN-98/3, home to world’s largest gas find of the year 2002, Minister of State for Petroleum and Natural Gas Dinsha Patel said in a written reply to the Lok Sabha on 26 April 2007.
“In this block, 140 million barrels of oil have been estimated,” he said.
Company officials said Reliance aims to pump 40,000 barrels of crude oil per day from the block by first quarter of 2008.
Reliance has till date made more than a dozen gas discoveries in KG-D6 and put combined reserves in the block at around 50 Trillion cubic feet (Tcf). Gas production from the block is targeted around July 2008.
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First Published: Thu, Apr 26 2007. 06 01 PM IST
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