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Jun 27, 2012, 08.38 AM IST
Reliance Industries (RIL) has demanded a market price of KG-D6 gas instead of USD 4.205 per million British thermal unit rate fixed for five years ending March 31, 2014.
RIL had also on February 21 submitted a proposal seeking a price of equivalent to 12.67% of price of Japan Customs-Cleared Crude (JCC) oil.
CNBC-TV18 sources have also learnt about RIL telling the oil ministry has it can produce additional 35 mmscmd outside of DID3 via the KG-D6 integrated plan. RIL and its partners BP and Niko Resources plan to spend USD 4 billion (Rs 22,000 crore) to develop satellite gas fields off India's east coast, a newspaper reported on Friday, citing company officials and government sources.
RIL holds 60% of the D6 block, BP has 30% and the rest is held by Canadian oil and gas producer Niko.
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