New Delhi : Reliance Industries and its partner BP plc will nearly triple natural gas production from their eastern offshore KG-D6 block by 2021-22 in anticipation of a ‘right’ gas price covering their exploration risk. KG-D6 block, which produced an average of 11.5 million standard cubic meters per day of gas in January-March quarter, will see output rise to 30-35 mmscmd by 2021-22, according to a presentation RIL-BP gave at a meeting in Prime Minister’s Office last week.
The output rise will come from R-series, 4-satellite and other satellite fields and MJ-1 fields, they told the meeting which was attended by Principal Secretary to Prime Minister Nripendra Misra and Cabinet Secretary Ajit Seth.
The meeting called to review exploration issues and review gas production plans, was also attended by Finance Secretary Rajiv Mehrishi, Chief Economic Adviser Arvind Subramanian, NITI Aayog member Bibek Debroy and officials from the ministries of oil and coal.
Sources said RIL-BP as well as other operators including ONGC called for remunerative natural gas price that covers their exploration risk.
