RIL asks GoI to okay FY13 capex to avoid shutdown at KG-D6
Reliance Industries (RIL) has warned the government that gas output at its KG-D6 basin may stop by 2015 if fresh capex is not announced.Hence to avoid such a situation, RIL along with its British partner BP has asked the government to approve a USD225 million capex to stem fall from the KG-D6 basin.
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RIL asks GoI to okay FY13 capex to avoid shutdown at KG-D6
Reliance Industries (RIL) has warned the government that gas output at its KG-D6 basin may stop by 2015 if fresh capex is not announced.Hence to avoid such a situation, RIL along with its British partner BP has asked the government to approve a USD225 million capex to stem fall from the KG-D6 basin.
Like this story, share it with millions of investors on M3
RIL asks GoI to okay FY13 capex to avoid shutdown at KG-D6
Reliance Industries (RIL) has warned the government that gas output at its KG-D6 basin may stop by 2015 if fresh capex is not announced.Hence to avoid such a situation, RIL along with its British partner BP has asked the government to approve a USD225 million capex to stem fall from the KG-D6 basin.
Reliance Industries (RIL) has warned the government about the continous fall in gas output at its KG-D6 basin and has also expressed concern that the output may stop by 2015 if fresh capex is not announced. Hence, to avoid such a situation, RIL along with its British partner BP has asked the government to approve a USD 225 million capex to stem fall from the KG-D6 basin .
CNBC-TV18 has also learnt that RIL significant risks of shutdown exist around 2015-16. RIL's executive director PMS Prasad and BP India's S Mukundan met the Oil Min on Friday to discuss issues relared to KG-D6 falling output. Also watch the accompanying video for more details....
The two companies (RIL and BP) have reportedly told the governmentthat immediate approval of capex will help it produce 0.6 trillion cubic feet from its D1D3 blocks at KD-D6.
An additional $543 million of capex in FY13 can increase output by nearly 1 trillion cubic feet, the company said.
