RIL seeks speedy approvals for KG-D6 field survey: Sources

Reliance Industries (RIL) has called the management committee (MC) which was formed to look into KG-D6 oil wells related issues. The oil and gas major wants to expedite approvals for KG-D6 field surveys, say CNBC-TV18 sources.

Expediting approvals for carrying out surveys will not only help the company increase output from KG-D6 but to also save around USD I billion.

Considering that weather in Bay of Bengal permits such surveys only in pre-monsoon months, RIL wants to start the survey soon. RIL and its partner BP have proposed that the expenditure they make in the survey would be adjusted in the integrated field development plan for all the discoveries they would be submitting to the authorities.

The MC is chaired by Directorate General of Hydrocarbons director general SK Srivastava, oil ministry officials and representatives of RIL, BP and Niko Resources of Canada, the third partner in KG-D6.

Sources said RIL-BP are working on an integrated and capital efficient plan for block development, involving production from all the 18 gas discoveries in KG-D6. They projected first gas from R-Series, the third largest gas find in KG-D6 block, by 2015 and production from satellite fields by 2016 subject to timely regulatory approvals.