RIL had found gas in the Dhirubhai-1 and 3 wells in October 2002 and were declared commercially viable finds between April 2003 and March 2004.
As per the new norms, RIL will get the benefit of the new price for gas from its existing fields like MA in the KGDWN-98/3 or KGD6 block and new/upcoming ones like R-Series and satellite in the KG Basin block and the ones in North East Coast block NEC-25.
The Oil Ministry had in a draft note to the Cabinet proposed that RIL be forced to sell gas from Dhirubhai-1 and 3 (D1&D3) gas fields in KG-D6 block at current rate of USD 4.2 till it is proved that the over 80 percent fall in output was due to natural reasons, or the firm makes up for producing less than target since 2010-11.
The billionaire Ambani brothers on Wednesday appeared to signal that their bitter rivalry may end as they prayed, danced and ate together at a two-day family reunion to mark the 80th birth anniversary of their father Dhirubhai at this small Gujarati village.
The celebration of Dhirubhai's 80th birth anniversary continues at the Ambani hometown of Chorwad in Gujarat with great fanfare. The second day of the Ambani brothers' reunion began with prayers and the inauguration of a memorial of their father Dhirubhai.
In 2010 - the Ambani brothers publicly buried the hatchet and ended their bitter dispute. And the entire ambani clan is now ending 2011 with a very public celebration of the late Dhirubhai Ambani's 80th birth anniversary at Chorwad, Gujarat.