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Oil minister Veerappa Moily sees gas output rising by 2016-17

Gas output is expected to rise to 175 mscmd in 2016-17 from 105 mscmd in the current fiscal year, says Moily
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First Published: Fri, Jul 19 2013. 01 25 PM IST
A file photo of oil minister Veerappa Moily. Photo: Ramesh Pathania/Mint
A file photo of oil minister Veerappa Moily. Photo: Ramesh Pathania/Mint
New Delhi: India’s gas output is expected to rise to 175 mscmd (million standard cubic metres per day) in 2016-17, from 105 mscmd in the current fiscal year, oil minister Veerappa Moily told reporters on Friday.
India last month took the unpopular step of approving a gas price rise for the first time in three years, a move which could inject much needed investment in local production.
India’s gas output has been falling since April 2010 because of geological complexities at Reliance Industries Ltd (RIL)-operated D6 block in the east coast, while state oil and gas producers are struggling to arrest decline in aged fields.
RIL’s gas output from the KG-D6 fields is expected to rise substantially from 2016-17, Moily added.
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First Published: Fri, Jul 19 2013. 01 25 PM IST
More Topics: Veerappa Moily | gas output | oil | RIL | KG-D6 |
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