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Government Asks BP Plc, Reliance Industries Ltd To Surrender 81% Of KG-D6 Gas Block - Business Standard


Wednesday, 30 Oct 2013 08:20am EDT 

Business Standard reported that the government asked Reliance Industries Ltd to give up 81 % of its KG-D6 gas block, including five discoveries, as the time allocated for producing from them had expired. The Oil Ministry wants RIL and its partners BP plc of UK and Canada's Niko Resources to give up 6,198.88 square kilometres out of a total 7,645 sq km area in KG-D6 block, by retaining only the portions where regulator DGH-recognised discoveries have been made. The area sought is more than 5,367 sq km area that RIL had offered to relinquish and includes five discoveries - D4, D7, D8, D16 and D23 for which the Directorate General of Hydrocarbon (DGH) had opined that RIL missed deadlines for submission of investment plans. 

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