Reliance starts gas production in Krishna Godavari basinApril 2nd, 2009 - 2:38 pm ICT by IANS
Mumbai, April 2 (IANS) The Mukesh Ambani-led Reliance Industries Ltd (RIL) Thursday started gas production in its deep-sea Krishna Godavari (KG) fields, nearly seven years after it found the gas off the coast of Puducherry.
The gas production from Dhirubhai 1 and 3 wells of the KG-D6 block is expected to add about Rs.4,000 crore ($795 million) to the annual revenue of RIL, the company said in a statement.
“At peak production, the KG-D6 facility is expected to produce over 550,000 barrels of oil equivalent per day,” the company said.
The gas from KG-D6 is also expected to reduce India’s import bill.
The gas would boost power supply from idle electricity generators starved of fuel and produce cheaper urea for agriculture.
“This is a momentous occasion for India. The clean energy from Dhirubhai 1 and 3 discoveries of the KG-D6 block will be a boost for energy security and growth of India,” RIL chairman and managing director Mukesh Ambani said.
The Rs.44,175 crore ($8.835-billion) project will double domestic gas production when the field hits peak output.
It will wipe out fuel deficit at urea-making fertiliser plants and meet half of the 36 million units per day gas shortfall in power plants, the company said.
- Mukesh Ambani's RIL signs $20 billion deal with BP - Feb 21, 2011
- BP expects Krishna Godavari gas output to rise - Sep 28, 2011
- Reliance, BP form joint venture for gas business - Nov 18, 2011
- KG basin gas row: SC to deliver verdict today - May 07, 2010
- Government gives nod for Reliance Industries-BP deal - Jul 22, 2011
- Reliance gets approval for $7.2 billion BP deal - Aug 09, 2011
- Reliance Industries completes KG-D6 block's design capacity assessment - Dec 28, 2009
- Reliance Industries Q1 net profit declines 21 percent - Jul 20, 2012
- Gas production from RIL's KG-D6 block declines - Aug 09, 2012
- Timeline of Reliance Krishna-Godavari gas dispute - May 07, 2010
- BP to buy 30 percent stake in RIL oil blocks for $7.2 bn - Feb 21, 2011
- Comptroller and Auditor General unable to access Reliance documents on KG Basin project - Aug 08, 2009
- RIL denies wrong-doing in production sharing contract (Lead) - Sep 08, 2011
- Chronology of the Krishna-Godavari gas dispute - Oct 19, 2009
- RIL gas begins to flow from KG D-6 basin - Apr 02, 2009
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