RIL strikes two more gas reserves in KG basin

After D6 in Krishna Godavari basin, Reliance Industries (RIL) has struck big in two nearby blocks with estimates putting in place natural gas reserves at 20 trillion cubic feet (Tcf) .

D-3 and D-9 blocks in the same KG 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.

D6, which may hold upto 50 Tcf of gas reserves, began producing last month and is slated to double India's natural gas production by year end when it reaches 80 million cubic meters per day.

"The two discoveries on D3 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 D3 block which have been named Dhirubhai 39 and 41, and extensive gelogical and geophysical work.