Cairn India, which had made four discoveries in the KG-DWN-98/2 block before selling 90 per cent out of its 100 per cent stake in the block to ONGC in 2005, has written to the oil regulator DGH saying the state-owned firm is grossly overstating the reserves in block, sources said.
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.
Based on a petition filed by Palem Srikanth Reddy, president of the Jana Palana Party, a division bench comprising justices G Rohini and T Sunil Chowdary issued notices and posted the matter on April 2 for further hearing.
Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal. The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices. Russia's share of India's crude imports remained strong at about 35 per cent in September 2023.
Once all formalities are completed, the ONGC consortium will spend about Rs 1,700 crore (Rs 17 billion) on developing these three blocks, sources indicated.
Swing and seam friendly conditions, a lack of truly scary Australian bowlers and New Zealand captain Brendon McCullum's retirement are all themes that will resonate when the first Test gets underway in Wellington on Friday.
Solicitor General Mohan Parasaran was replying to the charges made by the parliamentarian Gurudas Dasgupta and Common Cause, a public interest organisation
Reliance Industries Ltd, whose gas pricing formula has been questioned by Anil Dhirubhai Ambani Group company Reliance Natural Resources Ltd, has said that the company has not breached a Bombay high court order.
Reliance Industries has found natural gas reserves in a well drilled on its NEC-25 block in Mahanadi basin, off the Orissa coast, the company's junior partner Niko Resources of Canada said on Friday.
CPI(M) Rajya Sabha Tapan Sen, in an interview to Rediff.com, explains what he believes are the irregularities committed by Reliance Industries and how UPA government has allowed it to get away with it.
Mukesh Ambani-led Reliance Industries Ltd announced on Tuesday a new crude oil discovery in the Krishna Godavari basin off the Andhra Pradesh coast.
All-rounder Cameron Green thwarted New Zealand with a sparkling, unbeaten century after the hosts' seamers threatened to dominate the opening day of the first Test against Australia in Wellington on Thursday.
RIL has discovered more gas in Krishna offshore basin. The company has named this block Dhirubhai - 38.
World champions Australia will hope to round off one of the nation's most successful seasons in cricket with victory in a rare Test series in New Zealand starting at Wellington's Basin Reserve on Thursday.
One piles up runs, the other piles up wickets. Both Kane Williamson and Tim Southee will hope to add to their hauls when they play their 100th Test match against Australia in Christchurch this week.
Cairn Energy of UK will invest between $630 million and $859 million to develop its natural gas discovery in the deepwaters of Krishna Godavari basin, off the Andhra coast.
New Zealand paceman Neil Wagner called time on his 64-Test career on Tuesday, bowing out as the nation's fifth highest wicket-taker with 260 victims after being informed he would not be selected in the upcoming series against Australia.
'I'd like to probably err on the side of preparing him through red ball. We know how good a white-ball player he is so you put a priority on what it looks like next summer.'
Lyon will be lauded for his 10-108 over the match, there was little doubt that Green's brilliant knock in a 10th-wicket partnership of 116 runs with Josh Hazlewood set the platform for the victory.
Reliance Industries has informed oil regulator DGH that four smaller gas finds surrounding the D-1 and D-3 fields in the Krishna-Godavari basin can be commercially exploited.
Oil and Natural Gas Corporation has discovered natural gas reserves in Krishna Godavari basin off the Andhra coast, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
At least two persons were killed and four others injured in West Bengal's Jalpaiguri district as a mortar shell, reportedly carried by the floodwaters of Teesta river, exploded, police said on Friday.
The 635-sq km CB-ONN-2003/1 block is located at a distance of about 130 km from Ahmedabad, in Gujarat.
For India's upstream sector that has seen no new discovery coming into production.
As many as 44 flights to and from the Kempegowda International Airport in Bengaluru were cancelled owing to the Karnataka bandh over the Cauvery water sharing issue with Tamil Nadu, airport authorities said.
Farmers organisations and pro-Kannada organisations staged protests in Mysuru, Mandya, Bengaluru and other parts expressing their anger and urging the state government not to release water to Tamil Nadu.
ONGC is set to invest Rs 440 Crore (Rs 4.4 billion) in drilling of 40 oil and gas wells in the Krishna-Godavari basin next fiscal, a senior official of the company said on Wednesday.
'We plan to add over 100,000 square kilometres every year, to reach an ambitious target of 500,000 square kilometres by 2025.'
IMAGES from Day 2 of the 1st Test played between New Zealand and Australia in Wellington on Friday.
The Cauvery Water Management Authority has asked Karnataka to continue releasing 5,000 cusecs of water to Tamil Nadu for another 15 days, a senior jal shakti ministry official said on Monday.
"As on date, GSPC has drilled 15 wells, of which 11 have proven reserves of 10.8 tcf. The gas production in the field, spread across 1,850 sq km, is likely to kick off after two-and-a-half years," Saurabh Patel, the state's energy and petrochemicals minister, informed the assembly. Of the 15 wells, GSPC received success in 11 wells, while three showed no gas flow. Testing in one well is yet to be done.
HPCL's Vizag refinery in Andhra Pradesh was to receive the consignment of 65,000-70,000 tonne on November 17, but the ship carrying the oil could not offload it due to bad weather. The MA-1 oilfield started production in September. The company sold the first consignment to HPCL at a $5.34 a barrel discount to Nigerian crude grade Bonny Light.
In a major relief to Mukesh Ambani-led Reliance Industries Ltd, the Bombay High Court Friday allowed the sale of gas from the Krishna-Godavari basin at $4.20 per million British thermal unit (mBtu) and reserved final judgment on a case brought by Anil Ambani-run Reliance Natural Resources Ltd.
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.
Oil and Natural Gas Corporation has struck a large gas field in the Krishna-Godavari basin in Bay of Bengal, home for the gigantic gas find of Reliance Industries Ltd.
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.
Arunachal Pradesh Chief Minister Pema Khandu on Wednesday expressed concern over China's proposed mega hydropower project on the upstream of Siang River in Tibet, stating it will have a cascading effect on India and Bangladesh in the near future.
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