Reliance secures govt nod for additional investment to raise KG-D6 gas output
Reliance Industries Ltd has received government approval for increased expenditures in developing gas reserves in its KG-D6 block in the Bay of Bengal, which may increase production by 4 to 5 million standard cubic metres per day, according to a company official.
Reliance and its partner BP Plc currently generate around 30 mmscmd, or around 30% of India's gas production, from the KG-D6 block.
At an investor call to announce fourth-quarter earnings, Sanjay Roy, senior vice president for exploration and production at Reliance Industries Ltd, stated that the government has approved the development plan for incremental output.
He mentioned that a positive highlight of the previous quarter was the approval of an additional development plan by the government.
This plan has the potential to increase production by 4 to 5 million standard cubic meters per day in the upcoming years, thus enhancing our current production levels.