Reliance to delay D6 maximum gas output to FY13

July 29, 2010: Reliance Industries will be able to generate natural gas at peak capacity from its deep-sea field only by March 2013, as per India's oil secretary, S. Sundareshan. This means a delay of almost two years, according to a recent Reuters report.

Currently, the company is pumping around 55-60 million cubic metres per day (mmscmd) of gas, the oil secretary said on July 28, after attending a meeting of a ministerial panel set up to look into the gas allocation from KG D6 block in Krishna-Godavari basin.
On July 27, Reliance had stated that it would increase gas output at its KG D6 block after completion of a review of the reserve.
More than 70% of India's energy needs are imported, and the country is looking to secure assets abroad as well as pull in more investment to develop its oil and gas fields at home. Currently, India imports 28 mmscmd equivalent to 17% of its gas demand to meet the requirements of its power and fertiliser sectors.

Source: Steel Insights Daily