Reliance makes significant gas find in Krishna-Godavari basin

Reliance Industries has made a significant gas find in Andhra Pradesh’s Krishna-Godavari basin, which is comparable to the size of basin field of ONGC.

Initial estimates put the in-place reserves at 5-6 trillion cubic feet, of which up to 40-50 million cubic meters per day can be recovered, the Government sources said. The company, which has so far drilled five wells in the two deep water block offshore Andhra coast, has intimated the discovery to both Ministry of Petroleum and Natural Gas and upstream regulator Director General of Hydrocarbons. ONGC’s basin field has an inplace reserve of 8-9 trillion cubic feet. While a Reliance spokesperson declined to comment, informed sources said the company was to make an announcement of the discovery at its AGM on October 31. Sources said the discovery was made in D3 (Kg-dwn-98/3) block and the appraisal of the discovery was yet to be done to establish exact recoverable reserves. RIL, in consortium with Niko Resources of Canada, was awarded the two deepwater blocks in kg basin under the first offering of the NELP.