MoneyWorks4Me

Reliance Industries to raise gas output from KG-D6 block: Report

17 Jul 2013 Evaluate

Reliance Industries is reportedly aiming to raise gas output from KG-D6 block by 40 to 60 million metric standard cubic metres a day (mmscmd) but need enough gas price to justify further investments. In 2010, D6 block's output fell sharply from 62 mmscmd to about 14.2 mmscmd amid geological complexities and unpredicted reservoir behavior, but the oil ministry blamed the company for the fall.

The company was awaiting formal intimation by the government about future price of gas, which was crucial to get investment approvals from RIL's board. Currently, RIL is selling gas from its D6 block at $4.20 per unit and the price is valid till March 31, 2014.

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