RIL: Commercial Gas Production From KG Basin Begins By January
Reliance Industries (RIL) is planning to release gas from its D6 well in the Krishna Godavari basin in January 2009. The company is the biggest private sector petroleum company of India. It has, recently started oil production from the Krishna Godavari basin. The company has good presence in many countries in exploration & production (E&P) of oil. It has 54 blocks of oil exploration in eight countries.
The president and CEO of oil & gas business, P M S Prasad said that the company is producing very small quantity of gas from the basin right now. It will produce gas commercially and put it into pipeline from January next year.
The D6 block is producing 5,000 barrels per day of oil and capacity would be increased to 550000 barrels of oil per day in 6-8 quarters. The company discovered oil in D6 block, in April 2006 while the reserves of gas were found in 2002. The main customers of the company are Hindustan Petroleum Corporation and Chennai Petroleum Corporation.
Huge amount of gas and oil production would ease India’s dependence on oil and gas import.