RIL to raise 2 bn abroad

Reliance said in view of the significantly higher hydrocarbon potential and large projected deficit of gas demand, RIL has sought approval increase in production rate from 40 mmscmd to 80 mmscmd and enhanced facilities for production, collection, evacuation and handling of gas, both onshore and offshore.

RIL had earlier proposed investment of 2.47 billion dollar to produce 40 mmscmd for 7.5 years from discoveries 8212; Dhirubhai 1 and 3 in the D6 block 8212; out of a total 34 wells. RIL8217;s total investments are expected to touch 5.2 billion.

The company has made a dozen discoveries from the 15 wells drilled in the deepsea block KG-DWN-98/3 also known as KG-D6 but only the first four discoveries 8212; Dhirubhai 1, 2, 3 and 6 8212; have been declared commercial. Only the discoveries declared commercial would be developed in the first phase.