Reliance's 1Q CBM Output Rises 22% on Quarter
India’s Reliance Industries’ (RIL) coalbed methane (CBM) production during April-June quarter (1Q 2018-2019) was 3.26bn ft3, up 21.6% quarter on quarter, it said July 27. RIL operates two CBM blocks in the state of Madhya Pradesh.
Earlier this month, RIL chairman Mukesh Ambani said the company has started the second phase of CBM development to more than double the current production.
RIL also said that it has signed a sale and purchase agreement (SPA) with Sun Petro to farm out its entire 70% interest in Gujarat’s Cambay Basin block. The application for assignment has been submitted to government of India for approval, it said.
RIL operates the Cambay Basin block, which covers an area of 635 km2. It had won the block in 2005 in an auction in New Exploration and Licensing Policy (NELP).