Diabytes
RIL gas News
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Reliance Industries may defer development of R-Series and other satellite gas fields in the eastern offshore KG-D6 block if the gas price outlook was uncertain, its junior partner Niko Resources of Canada said.
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"In this context, it is important to follow the intent, purpose and commitment of the NELP Policy i.e. Maximising E&P activities, getting the risk reward balance right and providing marketing and pricing freedom. This will provide predictability and certainty to the investors," he said.
Reliance Industries and its partner BP plc will nearly triple natural gas production from their eastern offshore KG-D6 block by 2021-22 in anticipation of a 'right' gas price covering their exploration risk.
Reliance Industries will relinquish its Krishna Godavari basin gas discovery block, KG-D3, mainly because of operational restrictions placed by the Defence Ministry.
GAIL and CPCL have expressed their inability to deduct USD 115 million from the amount due to Reliance Industries.
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