The discovery was made in block KG-DWN-2003/1, lying about 50 km from Machilipatnam in Andhra Pradesh, a company statement said. The block was awarded to Reliance Industries in the fifth round of auction under the New Exploration Licensing Policy.
Two weeks ago, RIL chief Mukesh Ambani instructed his senior executives to get ready for production by October, almost two-three months ahead of the earlier planned schedule, as the refinery at Jamnagar, the East-West pipeline and facilities at KG basin are nearing completion, said sources. RIL is developing the largest gas find in the world in KG basin, with estimated gas reserves of 11.5 trillion cubic feet (TCF).
RIL on Monday submitted a commerciality report for the Dhirubhai-39 discovery in block KG-DWN-2003/1, about 50 km off Machilipatnam in Andhra Pradesh, to the oil ministry and the directorate general of hydrocarbons. A company official said the well KG-V-D3-A1 flowed 38.1 million cubic feet per day of gas and the find was later named Dhirubhai-39.
Reliance Industries Ltd has found new natural gas reserves in Krishna Godavari basin D6 block off the east coast, the company's minority partner Niko Resources has said.
Oil and Natural Gas Corporation said on Wednesday it will begin production from its ultra deep sea gas discovery in the Krishna-Godavari basin off the east coast by 2012-13.
The metrological department on Saturday said that Phailin is a very severe 'super cyclone' and its wind speed may go up to 200 and 240 km per hour by noon itself.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Reliance Industries Ltd has discovered huge oil reserves in its gas-rich D6 block in Krishna Godavari basin off the east coast, its minority partner Niko Resources of Canada has said.
BG Group of UK is planning to buy stake in ONGC's oil and gas blocks.
Infra major's entry could queer the pitch for Jaypee and Hindustan Semiconductor.
Three ministers from Andhra-Rayalaseema regions submitted their resignations to Chief Minister N Kiran Kumar Reddy late on Thursday night even as at least 15 others are understood to have backed out following a stern warning by the high command.
The India Meteorological Department said rainfall would be accompanied by gale wind speed reaching 140 to 150 kmph and gusting to 165 kmph along and off Odisha and north Andhra Pradesh coasts.
The company has been in talks with ConocoPhillips and Shell for some time. It now says the MoD's stringent norms on exploration in 'no-go' areas is posing a big challenge in taking the deal forward.
the money involved is more than Rs 2,000 crore across Andhra Pradesh
This classification of districts is to be followed by states and union terrotories till a week post May 3, when the second phase of lockdown will end, for containment operations.
The affected trains include Falaknuma, Palnadu, Amaravati Express and Macherla-Bhimavaram Passenger.
Sixteen deaths in rain and flood-related incidents have been reported from western Maharashtra in the last seven days, while the toll in Karnataka rose to five since Sunday.
After being pounded for an entire day by Cyclone Hudhud, the storm is weakened on Monday leaving behind a trail of destruction in Andhra Pradesh and Odisha.
Fortune favours the brave and he has done well by taking risks and winning it all, says Aditi Phadnis.
The newer gas finds will help turn the tide for ONGC, which has seen oil and gas output stagnating in recent times.
The approval is required to put through gas sales agreements with customers, which in turn are required to finalise Gas Transportation Agreements with transmission companies.
Chances are any such disruption will not occur on the major shipping lanes but on some edge of the ocean between India and China. Even if there is no actual disruption, the costs of averting one can be punitive. The setting for this is provided by the energy shortage both countries face, says Subhomoy Bhattacharjee.
Agitating against the decision to bifurcate Andhra Pradesh, Samaikyandhra supporters on Tuesday continued with their week-long protests across coastal Andhra and Rayalaseema regions.
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By the end of 2020, India will lay 32,737 km across the length and breadth of the country. It needs to lay down and comply with strict safety standards especially since some of these pipes will go through areas of dense habitation, says Rashme Sehgal.
The State must stand as a solid tower of confidence to provide a guarantee of safety to its citizens and instill fear in the hearts of offenders. But where is that State, asks Tarun Vijay
It is the low cost of iron ore extracted from their adivasi homeland mines that enables steelmakers like Tata Steel and Essar, and miners like NMDC, not only to be among the most profitable companies in India, but also gives it the financial muscle to make huge overseas acquisitions. Ultimately, it is the poor adivasi who pays for it with his home and hearth and gets no credit for it! Either from the State, which connives in their exploitation, or the industry that lords over their resources, says Mohan Guruswamy.
BP, which bought a 30 per cent stake in RIL's 21 oil and gas blocks, including KG-D6, for $7.026 billion in 2011, is working with RIL to arrest the output decline in the fields.
People in coastal districts of Andhra Pradesh heaved a sigh of relief on Thursday as the third cyclonic storm in over a month, which was expected to cause extensive damage, weakened before it hit the state.
RIL produced a total of 13.58 mmscmd of gas from Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Bay of Bengal in the first week of February, which rose to 13.63 mmscmd in the following week.
Cyclone Hudhud is set to intensify further into a very severe cyclonic storm in the next 12 hours before it makes landfall on October 12.
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
From planning Prime Minister Narendra Modi's foreign trips to playing a key role in the Jammu and Kashmir elections, former RSS spokesperson Ram Madhav is become increasingly important in the BJP
The government has formed a four-member panel of secretaries to suggest a new gas pricing mechanism.
'He keeps reminding me he is senior. There is no debate in this. I have never shown any disrespect to you since you are a senior,' the PM said.
The strong Bharatiya Janata Party-Telugu Desam Party combine in Seema-Andhra could upset the calculations of the YSR Congress in the region, but the TDP's biggest problem is rebellion from within. Vicky Nanjappa reports
Thousands of villages in Maharashtra's Marathwada region have been devastated by the worst drought in a century. Thousands of villagers have fled Marathwada hoping to find some form of livelihood in cities like Mumbai.
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