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New Delhi, March 24

The joint venture partners ONGC-Reliance Industries-BG expect to earn additional revenue from realising higher price for gas produced from Panna, Mukta and Tapti (PMT) fields.

"The joint venture stands to gain $70 million in 2006-07," Reliance Industries President (LNG), Mr R.P. Sharma, told mediapersons on sidelines of an oil and gas conference organised by The Energy Research Institute . The joint venture from April 1 will sell 5.4 million cubic meters per day (MMSCMD) of gas from PMT fields to GAIL (India) Ltd at $4.75 per million British thermal unit (mBtu). This was a dollar more than the present price.

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(This article was published in the Business Line print edition dated March 25, 2006)
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