Business Daily from THE HINDU group of publications
Saturday, Jan 19, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Jan 19, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Announcements Industry & Economy - Petroleum
Our Bureau New Delhi, Jan. 18 Reliance Industries Ltd plans to invest $1.14 billion to develop six gas discoveries in NEC-25 block in offshore Mahanadi basin. The company plans to produce 35-40 million standard cubic metres per day of gas from six finds in the Mahanadi block. “We have received the initial development plan for six discoveries and will be discussing certain issues with Reliance. The development plan in all likelihood will be approved by April,” a Directorate-General of Hydrocarbon (DGH) official said. Reliance has submitted an initial development plan for six gas discoveries in the block and Government approval could come by April once the company submits a timeline for production, the official told reporters. He said RIL first wants to finalise its gas production in D6 Block in offshore Krishna-Godavari basin before setting the timeframe for NEC-25 block. The Mahanadi block is situated off India’s east coast, north of the Krishna Godavari (K-G) basin where Reliance has made several natural gas discoveries. RIL plans to drill 12 development wells in the six finds, and aimed to produce gas from the Mahanadi block after it had begun commercial production from the K-G block. More Stories on : Announcements | Petroleum | Reliance Industries Ltd
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