Reliance strikes natural gas off India’s east coast

February 26th, 2008 - 9:49 pm ICT by admin  

New Delhi, Feb 26 (IANS) Mukesh Ambani-led Reliance Industries Ltd (RIL) has found natural gas off the Mahanadi river basin on the eastern seaboard of India, the company said Tuesday. RIL said it struck gas in the exploration block NEC-OSN 97/2 in the Mahanadi basin, off the Orissa coast in the Bay of Bengal.

“RIL is pleased to announce yet another gas discovery,” the company said in a statement.

“RIL is currently evaluating the potential commercial interest of the discovery through additional data collection and analysis,” it said, adding that it was the eighth discovery by RIL in the exploration block.

“RIL holds 90 percent participating interest in the exploration while the rest is with Canada-based petroleum company NIKO.”

Tags: , , , , , , , , , , , , , , , , ,

Posted in Business |