India to save 9 bn in oil import with RIL gas

Initial output was at 2.5 million standard cubic metre and will gradually increase. 8220;Tomorrow it will become five million standard cubic metre per day,8221; Pandey said.

The first,of the 15 fertiliser plants,that will get all of the initial output,is expected to get the gas in 3-4 days time,he said,adding,8221;The most distant plant will get the gas in about 15 days.8221;

8220;In four months time,the production will be 40 mmscmd and in about a year8217;s time it will be 80 mmscmd,8221; he said.

8220;It will reduce oil import bill by about USD nine billion annually during peak production at current prices,8221; Pandey said adding,gas sales over the 11 year-life of the field will generate USD 42 billion in revenues.

The government8217;s share in the production would amount to a minimum USD 14 billion,he said.