RIL finds two more gas reserves in K-G basin

After D-6 in the Krishna-Godavari basin, Reliance Industries has struck big in two nearby blocks, with estimates putting the natural gas reserves at 20 trillion cubic feet (tcf).

D-3 and D-9 blocks in the same K-G basin may hold 9.5 tcf and 10.8 tcf of gas reserves, respectively, UK-based Hardy Oil and Gas Plc said in a statement.

Hardy, which cited estimates by independent consultant Gaffney, Cline and Associates, has 10 per cent stake each in the two blocks where Reliance is the operator, with 90 per cent interest.

D-6, which may hold up to 50 tcf of gas reserves, began production last month and is slated to double India’s natural gas production by year-end when it reaches 80 million cubic metres per day.

“The two discoveries on D-3, in conjunction with the acquisition of risk mitigating technologies and geotechnical studies have resulted in the upward revision of the perceived Geological Chance of Success on both of our Krishna-Godavari basin blocks,” Chief Executive Sastry Karra said in a statement.

GCA estimated the reserves based on two gas discoveries on the D-3 block, which have been named Dhirubhai 39 and 41, and extensive geological and geophysical work.