Reliance strikes new gas find in Krishna basin

Reliance Industries (RIL) has once again struck gas in exploratory block KG-DWN-2003/1of Krishna basin. This is the second consecutive gas discovery in this block in less then two months. This discovery has been christened as Dhirubhai 41 and has been notified to government and the upstream regulator, the Directorate General of Hydrocarbons (DGH). The potential commercial interest of the discovery is being ascertained through more data gathering and analysis.

RIL holds 90% participating interest (PI) in the block and Hardy Exploration and Production India holds the remaining 10%. This deepwater block, which was awarded to RIL in NELP-V, is situated 45 kms away from the coast and covers an area of 3,288 sq kms.

In the last quarter of this financial year (2007-08), RIL has made four discoveries, two in Krishna Basin deep waters, one in shallow waters of Krishna Basin and one in Mahanadi Basin. The commercial production of RIL’s gas from Krishna Godavari basin is likely to start in third quarter of the 2008 fiscal.