Mumbai: Reliance Industries Ltd is set to begin gas production from its deep-sea field off the country’s east coast in the next 24 to 48 hours, the Economic Times reported on Monday, without citing a source.
A company spokesman reached by Reuters declined to comment on the report.
On Friday P.M.S. Prasad, the chief executive of Reliance’s oil and gas business, said the company plans to raise output from the deep-sea field in the Bay of Bengal by 10 mmscmd a month, reaching peak production of 80 mmscmd by the end of this year.
At peak production, the gas from the D-6 block in the Krishna Godavari (KG) basin is expected to add nearly $2 billion to Reliance’s profit, the Economic Times said, citing an unnamed source close to the development.
Reliance signed deals on Friday with a dozen fertiliser firms to sell about 15 mmscmd of gas from the D-6 block from the middle of April.