RIL Cuts KG-D6 Gas Estimates

Reliance Industries has revised lower its estimate of gas reserves in the D6 block to 3.4 trillion cubic feet (tcf), India’s oil ministry said in a statement.

As per Initial Development Plan (IDP) approved in November, 2004, the recoverable reserves was estimated to be 3.81 trillion cubic ft. On the request of RIL, it was revised in December, 2006 to 10.3 trillion cubic ft. "They have (RIL) again submitted a revised Field Development Plan in September, 2012 bringing back the reserves at 3.4 trillion cubic ft and Capex to $6.2 billion.  This is being examined critically by DGH," the minsitry said.

Reliance has seen a substantial decline in gas output from the KG gas fields over last few years. As per estimate, the production was to reach a level of 81 mmscd in 2012. They reached a peak of 67 mmscd in 2009-10 and further declined to 20.5 mmscd in 2012.