RIL enters into pact with Star Cotspin

Diversified group Reliance Industries Ltd (RIL), which is also into synthetic fibre manufacturing, has entered into a pact with Bhilwara-based Star Cotspin Ltd.
As per the agreement, Reliance's Recron SHT will be the basic substrate for polyester sewing threads manufactured by Star Cotspin. This yarn will then be sold, cobranded with Recron SHT.
Apart from branding the products, RIL will also provide marketing and technical support to Star Cotspin.
RIL and Star Cotspin will jointly conduct research and development work to further enhance Recron SHT sewing thread's quality, and will also explore new business opportunities.
"We believe this will accelerate our future growth through further penetration in our customer base of rewinder manufactured products," S K Chhajer, CEO, Star Cotspin said.

Reliance will also support Star Cotspin in creating awareness about standardised high quality sewing thread products among key stakeholders, especially spoolers and apparel manufacturers.

To the AP Shah Committee, RIL cited the D&M's comments
that independent development of resources in ONGC's block would be 'cost prohibitive' to state that they were "not commercially viable" on a standalone basis.
This implied that to produce them, they had to be necessary produced with neighbouring fields.
RIL in its submission stated that the 2003 appraisal report provided "very little from a technical perspective and nothing that is helpful in any joint development consideration" of the adjacent blocks.

"The Appraisal Report comprised of a simplistic consideration of seismic data and very limited well data confined to discover wells in Block KG-DWN-98/3, with no modelling but rather with a reliance on D&M's general experience in geology," it said.
It went on to state that seismic data may suggest continuity of channels across block boundaries, but is entirely insufficient in conclusively establishing presence of reservoir and reservoir connectivity.
"Well data from the ONGC blocks was only available to RIL in late 2013 and post-production pressure values from ONGC blocks were obtained by ONGC in the early 2015 through MDT survey in three of their wells," it said.

The 2003 Appraisal Report, RIL said, "relates to wells A1, B1, B2, and C1 of D1-D3 reservoir; it does not give consideration to wells A5, A9, A13 or B8 i.E., the wells which ONGC (wrongfully) claim have caused the alleged drainage and which it made specific complaint of in its Writ Petition (in the Delhi High) that lead to the Terms of Reference (of the AP Shah Committee)."
The company went on to add that it at all times confined its Petroleum Operations to its Contract Area and its exploration and development activities were approved by the Management Committee headed by DGH.