Reliance Industries Ltd.

Reliance Industries has decided to drill one gas well and convert two sick oil wells into gas wells on the MA oilfield in the predominately gas-rich KG-D6 block. Through this initiative, the company aims to maximize the gas production from the field.

The entity so far drilled six wells on the MA oilfield, the only oil discovery among the 19 oil and gas finds the company had made in the eastern offshore KG-DWN-98/3 or KG-D6 block. To deal with the problem, RIL and its partner BP Plc of UK submitted a Revised Field Development Plan for MA oilfield in February this year but then the revised plan envisages drilling of a new gas well and conversion of closed oil wells.

The Reliance Group, founded by Dhirubhai H Ambani, is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of $30 billion. The flagship company, Reliance Industries, is a Fortune Global 500 company and is the largest private sector company in India.