Reliance Industries’ flagging KG basin D6 block has seen natural gas output slip further, leading the government to disallow $2.756 billion in cost, Oil Minister Dharmendra Pradhan said today.
RILBSE -1.13 % and its partners BP plc of UK and Canada’s Niko Resources produced less than 16 per cent of the 31,793.28 million standard cubic meters (mmscm) target from KG-DWN-98/3 or KG-D6 block in 2013-14.
Output fell to 4,461.91 mmscm or 13.75 per cent of the targeted 32,458.72 mmscm in 2014-15 and to 3,939.97 mmscm or 12.24 per cent of the target in the following year, he said in a written reply to a question in the Lok Sabha.
In the current fiscal 2016-17, RIL and its partner have produced 2,641.67 mmscm of gas till February as against target of 29,316.69 mmscm, he said.
Pradhan also said the Gujarat government firm GSPC too has produced much less than target in the three years but no penalty has been levied on it.
Gujarat State Petroleum Corp (GPSC) produced 23.44 per cent of the targeted 470 mmscm of gas from its KG-OWN-2001/3 block in 2014-15 which when down to 11.09 per cent of the targeted 1210 mmscmd in the following year. In the current fiscal, just 6.29 per cent of the targeted 1,850 mmscm gas has been produced. Read more