RIL to start production of gas in KG basin from Jan-March
Reliance Industries will be ready to sell gas from its Krishna Godavari offshore basin from the January-March quarter next year.Commercial production of gas from the D6 block in the KG basin would start from January-March quarter, said Mr Mukesh Ambani, Chairman, RIL, at a news conference on Sunday called to announce the commencement of oil production from the block.
Mr Ambani said the crude, which started flowing on September 17, is now stabilised at 5,000 barrels a day, and would be scaled up to 5.5 lakh barrels of oil equivalent a day over the next four to six quarters. This would account for 40 per cent of domestic output. Gas would account for 90 per cent of production from the D6 block, and crude the rest.
The gas from the D6 block is currently being injected back. By fiscal 2010, oil and gas would contribute 25 per cent of the RIL’s profits, against 2 per cent currently.
Source: Business line dated: 22-09-08