Genesis to design RIL’s deep water field in KG Basin

Genesis to design RIL’s deep water field in KG Basin

Reliance IndustriesBSE 1.34 % has contracted offshore engineering service provider Genesis to undertake front-end engineering design (FEED) for its deep water field in the KG Basin.

The contract is for developing the MJ field of KG-DWN-98/3 block where Reliance holds 60% participating interest, according to a statement on the Genesis website. BP and Niko hold 30% and 10% interest in the block, respectively. The work will be managed from the Genesis head office in London, it said.

Last year, Reliance Industries had invited expression of interest from contractors for the development of its deep water oil and gas fields. This was done following a shift in the government policy, allowing producers to charge a higher price for gas from deep water and other difficult fields, effectively doubling the price from what is available to normal fields in the country.
Those engaged in gas price-linked litigation with the government, however, can’t avail higher prices for  .. Read More…

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