Reliance Industries Ltd.

The new Cabinet Committee on Investment (CCI), constituted to expedite the clearance for infrastructure projects of Rs 1,000 crore or more, is likely to consider on January 30, 2013 clearing 47 oil & gas blocks, including Reliance Industries' producing KG-D6 gas fields, where defence approval has either been withdrawn or withheld.

The Oil Ministry seeks CCI to relax strict conditions that Defence Ministry has put for exploration in 32 blocks and clearance of 14 blocks which have been declared 'No-Go' areas.

Mukesh Ambani owned Reliance Industries and its partner BP Plc's KG-D6 gas fields and gas discovery area NEC-25 were among 14 oil and gas blocks that have been declared no-go areas by the Defence Ministry. The reason for classifying the Krishna Godavari basin block, where UK's BP Plc has 30 percent interest, as 'No-Go' area is that it overlaps with a proposed Naval base.