Compounding production woes at India's biggest gas field, Reliance Industries has projected a further 13% drop in output from the Krishna Godavari basin fields, a trend that RIL hopes UK's BP will help it fix. Reliance has projected that gas output from Dhirubhai-1 and 3 (D1 and D3) gas fields in the block KG-DWN-98/3 (KG-D6), will be 38 million standard cubic metres per day in 2012-13 from current production level of 43-44 mmscmd. D-26 or MA oilfield in the same block is expected to produce current levels of 8-9 mmscmd, taking the total output from the deep-sea area in Bay of Bengal to around 47 mmscmd. At present, KG-D6 block is producing around 51-52 mmscmd.
D1 and D3, the largest of the 18 gas discoveries that Reliance and its 10% partner Niko Resources of Canada have made in the 7,645 square kilometre KG-D6 block, had touched 53-54 mmscmd of output in mid-2010 but the production has fallen since. Reliance does not propose to drill more wells on D1 and D3 to increase production.
Reliance has projected crude oil output from the MA field in the same block to fall to 12,050 barrels per day in 2012-13 from about 17,000 bpd current production. Reliance at present sells 14 mmscmd of gas from KG-D6 to fertiliser plants, 24 mmscmd to power plants and the remaining 13 mmscmd to other sectors like sponge iron plants, LPG, city gas distribution (CGD), petrochemical plants and refineries.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1331.05 |
| Indian Oil Corp. | 143.80 |
| BPCL | 307.60 |
| HPCL | 374.60 |
| MRPL | 186.20 |
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