Reliance hold 90 per cent interest and is the operator of the deep-sea block KG-DWN-2001/1 (D9).
In addition to undertaking to validate prospects identified by the joint venture, GCA employed a play-based exploration methodology on the D3 block to address both the current prospect inventory and the 'yet to find' resource potential. In D3, GCA estimated 9.5 Tcf of inplace reseves. 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 Hary Oil and Gas Plc said.
British Gas Plc on Thursday said it along with Oil and Natural Gas Corporation and Reliance Industries Ltd will invest $138 million in developing the Panna/Mukta and Tapti oil and gas fields to improve production.
RIL, which had made four consecutive gas discoveries with close to 500 billion cubic feet of in-place reserves in block, proposed immediate relinquishment, its minority partner Hardy Oil and Gas plc of UK said on Wednesday.