RIL gas production is likely to rise, says DGH
Shares of Reliance Industries Ltd. (RIL) jumped after the comments of the Directorate General of Hydrocarbons (DGH).
It has said that in the starting of April, the Company will enhance natural gas output at the KG-D6 block in the Krishna-Godavari basin, which is located off India's east coast.
S. K. Srivastava, director general at the Directorate General of Hydrocarbons, has told reporters that according to the plans of Reliance Industries which were submitted to them, it is expected that the gas output from KG-D6 may rise to 67 million metric standard cubic meters per day (MMSCMD) in April.
According to Srivastava, at present Reliance Industries is producing 53 MMSCMD of gas from the deep-water D6 block. Srivastava has added that the plans which were submitted to them confirmed that their output from the gas fields i. e. D1 and D3 would be 59 MMSCMD and eight from MA [Mukesh Ambani field]. That means it would give 67 MMSCMD from D6 in the month of April.
The DGH has also said that at present RIL have 18 operating wells in the KG-D6 block but in coming future it will have 22 operating wells.