Feb 15, 2017 04:40 PM IST | Source: PTI

RIL awards MJ-1 deep-water front-end engg contract to Genesis

Reliance Industries has selected engineering group Genesis to do a deep-water front-end engineering contract for its MJ-1 gas discovery in KG-D6 block.

RIL awards MJ-1 deep-water front-end engg contract to Genesis

Reliance Industries has selected engineering group Genesis to do a deep-water front-end engineering contract for its MJ-1 gas discovery in KG-D6 block.

Genesis, a subsidiary of newly merged TechnipFMC, will prepare engineering blueprint for producing gas and condensate through seven wells, tied up to a floating production, storage and offloading (FPSO), the company said in a statement.

The work will be managed from the Genesis head office in London.

John Cambridge, Genesis' Managing Director, said: "This award is strategically important to Genesis and we are very excited to be awarded this contract by RIL." Reliance Industries is the operator of Block KG-DWN-98/3 of KG-D6 in Bay of Bengal with a 60 per cent interest. BP Plc of UK owns a 30 per cent share while Canada's Niko Resources holds the remaining 10 per cent.

A resource evaluation report by Deloitte, which was based on data from the MJ-1 discovery well and the MJ-A1, MJ-A2 and MJ-A3 appraisal wells, found the MJ field contains best estimate gross contingent non-associated gas resources of 1.1 trillion cubic feet and condensate resources of 49 million barrels.

Located about 2,000 meters below the producing D1-D3 fields in the KG-D6 block, MJ-1 may be the third biggest gas field in the block. D1&D3 hold a revised 3.10 Tcf of reserves and R-Series field holds about 2 Tcf of recoverable reserves.

RIL has so far made 19 gas discoveries, of which D1&D3 were put on production in April 2009. MA oil and gas field was put on production in September 2008.

Disclosure: Reliance Industries, which owns Reliance Jio, also owns Network18, which publishes Moneycontrol.com.

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