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RIL refutes allegation of hoarding gas

26 Nov 2012 Evaluate

Mukhesh Ambani owned Reliance Industries (RIL) has refuted claims of hoarding gas by keeping KG-D6 output low, reasoning it is technically impossible to store gas in the KG basin fields. The company also has sought appointment of independent international experts to verify its claims.

Gas production from D1-D3 started dwindling from a plateau level of about 55 million standard cubic meters per day in August 2010. It is currently less than 20 mmscmd. Six out of the 18 wells on the field have been locked up due to high water and sand ingress. KG-D6 is currently producing around 25 mmscmd after including output from the MA field.

Peers
Company Name CMP
Reliance Industries 1186.10
Indian Oil Corpn. 130.70
Bharat PetroleumCorp 296.50
HPCL 343.10
MRPL 172.60
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