The development plan under preparation is for earlier find in KG-8 well in June 2005. GPSC believes it will take two years from the date all approvals are in place, including the one for development plan, which details investments and volumes to be produced, for starting production from the block KG-OSN-2001/3 off the Andhra coast.
The government will now examine the report and decide on how and to what extend should ONGC be compensated for its gas being produced by RIL.
'An internationally established price of crude will encourage more players to invest in India, leading to enhanced domestic production which can be made available to domestic refineries,' recommends Anil Agarwal whose company Vedanta Resources has a controlling stake in Cairn India that operates the country's biggest onland oilfield in Barmer, Rajasthan.
The company has battled opposition from green groups since starting work on the project five years ago
Indian cricket legend Sachin Tendulkar has revealed what he loved and hated during his New Zealand tours in his playing days. Tendulkar claimed that the windy and cold conditions, the food poor, boundaries short and the accent was impossible to master in New Zealand.
Oil and Natural Gas Corporation has told oil regulator Directorate General of Hydrocarbons (DGH) that its KG basin block may hold about 3 trillion cubic feet of gas reserves from which it plans to produce 25-30 million unit a day by 2016.
Kane Williamson completed his second half-century of the match to take New Zealand to an eight-wicket victory in the third and final Test against West Indies and seal the series 2-0 after lunch on the fourth day on Sunday in Hamilton.
Edinburgh-based Cairn said its Alpha-1S1 well in the sea between Greenland and Canada found oil over a 400 meter section and encountered gas reserves, the company said.
New Zealand's cricketing Gallipoli came on February 1, 1981 when Australia captain Greg Chappell instructed his brother Trevor to bowl the last ball of a One-day match at the Melbourne Cricket Ground along the ground.
In what could seal the fortunes of the gas and power businesses of the two Ambani brothers, the Supreme Court is to deliver a judgment tomorrow on the bitterly fought dispute over gas from the Krishna-Godavari basin's D6 block.
Seeing the potential of shale gas, Reliance Industries moved early to secure a foothold in the Marcellus shale reserves in the US.
DGH director general V K Sibal objected to Hardy, which holds 10 per cent stake in RIL-operated D3 and D9 blocks, making 'an unwarranted, unethical and premature announcement that is bound to mislead' and influence share price. Sibal on May 29 wrote to Securities and Exchange Board of India chairman C B Bhave asking the market regulator to take up with its counterpart in London the unauthorised statement made by Hardy about its assessment of reserves in the two blocks.
Kumar Sangakkara became the fastest player to reach 12,000 Test runs and will look to rebuild Sri Lanka's innings after they were left teetering at 78 for five at the end of the first day of the second Test against New Zealand.
Brendon McCullum's singular contribution to New Zealand cricket extends far beyond the pyrotechnics with the bat which attracted a new generation to the game and helped make the 2015 World Cup such a spectacular success.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
The discovery was made in the west Tripura block in the Assam and Assam Arakan basin, the company said. Exploratory well Sundalbari-4 was drilled to a depth of 3,400 meters and flowed gas at the rate of 160,000 cubic meters per day. The gas contains upto 96.3 per cent methane, ONGC said, but did not give any estimates of potential reserves in the new discovery.
According to sources, the government has provided a list of 20 companies to Reliance Industries for sale of gas as per the gas utilisation policy. Some of these companies include Nagarjuna Fertilizer & Chemicals, Chambal Fertilizers & Chemicals, Tata Fertilizers and Oswal Chemicals & Fertilizers among others.
Reliance had won the block in the fifth round of auction under the New Exploration Licensing Policy.
Reliance Industries has put the cost of producing natural gas from its prolific Krishna Godavari basin fields at $2.9 per million British thermal unit and the firm will earn a pre-tax return of 13 per cent.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
Reliance Industries is in talks with global energy majors, like British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields. RIL is looking for a strategic partner for its KG-D6 gas block to get deep sea exploration technology. The percentage of stake to be divested has not been firmed up & may depend on the value that the partner was bringing in. The block contains over 50trillion cubic feet of gas reserve
The Oil and Natural Gas Corporation plans to invest over US$ 5 billion to produce 25 million standard cubic meters per day of gas from its eastern offshore Krishna Godavari fields by 2013. The state-run firm on Wednesday submitted to the regulator Director General of Hydrocarbons an appraisal programme of the discoveries it had made in the KG offshore basin, putting the in-place reserves at 6.37 trillion cubic feet. ONGC also plans to produce 8,000 barrels of oil per day.
Reliance Industries found huge natural gas reserves in the very first well it drilled, which subsequently proved to be the world's second largest deepwater discovery in the last decade.
Rain forced the first Test between New Zealand and West Indies to be abandoned as a draw after tea on the fifth and final day at University Oval in Dunedin on Saturday.
Reliance Industries, which has discovered gas reserves of nearly 14 trillion cubic feet in the Krishna-Godavari basin off the coast of Andhra Pradesh, is building a gas-receiving jetty in Kakinada.
Reliance Industries has made a 'significant' gas find in a Cauvery basin block-off the east coast, company officials said.
Reliance Industries has made a 'significant' gas find in a Cauvery basin block-off the east coast, company officials said.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
Reliance Industries Limited has made two natural gas discoveries on the east and west coast adding to the vast hydrocarbon reserves it has found in the past few years.
Pradhan said a National Data Repository which will store information on all sedimentary basins of the country is being pursued on top priority.
Important for India was Xi's meeting with representatives of PLA officers and soldiers stationed in Tibet. The video of the encounter was interesting to watch, especially the large number of lieutenant generals and major generals, observes Claude Arpi.
The blocks on offer include one in the prospective Krishna-Godavari basin in the Bay of Bengal, where Reliance Industries found a large field with estimated reserves of 14.5 trillion cubic feet of gas last year.\n\n\n\n
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