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Reliance Industries Ltd And BP Plc Win Approval For $3.18 Billion Plan For R-Series Gas Field-Business Standard


Thursday, 29 Aug 2013 03:25am EDT 

Business Standard reported that Reliance Industries Ltd and its partner BP Plc won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block. Reliance Industries Ltd and BP Plc plan to quickly bring satellite fields in the KG-D6 block to production to help reverse the decline in output. The block oversight committee, called Management Committee (MC), headed by upstream regulator DGH, approved plans of RIL and its partners BP plc of UK and Niko Resources to produce 13-15 million standard cubic meters per day of gas for 13 years from D-34 discovery in the KG-DWN-98/3 or KG-D6 block, sources privy to the development said. The planned output from D-34, which is estimated to hold an in-place reserve of 2.2 Trillion cubic feet, is equivalent to the combined current production from Dhirubhai-1 and 3 (D1&D3) gas field and MA field in the KG-D6 block. RIL, the operator of KG-D6 block with 60% interest, had on January 30 submitted the Field Development Plan (FDP) for D-34 field to DGH. Sources said DGH after examination trimmed down the recoverable reserves to 1.191 Tcf from 1.413 Tcf estimated by the operator. 

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