Reliance Industries (RIL) is trading higher over 2% at Rs 805 on reports that the company and its partners BP and NIKO have struck a significant gas and condensate discovery in the KG D6 block.
The discovery named D-55 lies over 2000 meters below the already producing reservoirs in D1-D3 gas fields. The company however has not stated the amount of possible reserves the discovery may hold but the discovery has been notified with the government authorities.
RIL is the operator of KG-D6, with 60% equity. BP has a 30% share and Niko holds the remaining 10%.
The stock opened at Rs 803 and hit a high of Rs 807 in early morning trades on BSE. A combined around 90,000 shares have changed hands on the counter so far on BSE and NSE.
The discovery named D-55 lies over 2000 meters below the already producing reservoirs in D1-D3 gas fields. The company however has not stated the amount of possible reserves the discovery may hold but the discovery has been notified with the government authorities.
RIL is the operator of KG-D6, with 60% equity. BP has a 30% share and Niko holds the remaining 10%.
The stock opened at Rs 803 and hit a high of Rs 807 in early morning trades on BSE. A combined around 90,000 shares have changed hands on the counter so far on BSE and NSE.