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RIL gets green nod for carrying out exploratory drilling project in Tamil Nadu

16 May 2016 Evaluate

The Centre’s green panel has given its nod to Reliance Industries (RIL) for carrying out eight additional exploratory well drilling to ascertain reservoir capacity and commercial viability of hydrocarbons in the block CY-III-D5 in Bay of Bengal off the coast of Tamil Nadu.

The company has been awarded exploratory rights for hydrocarbons prospecting in the offshore block DY-III-D5 under the New Exploration Licensing Policy-III. RIL has already been given the environment clearance to drill 11 exploratory wells in this block. As on date, the company has drilled nine wells and discovered hydrocarbons in three wells.

Reliance Industries has businesses across India, engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications.

Peers
Company Name CMP
Reliance Industries 1206.65
Indian Oil Corpn. 130.50
Bharat PetroleumCorp 297.00
HPCL 343.05
MRPL 182.85
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