Reliance Industries Ltd is expected to start pumping gas in November from its deep-water field off India's east coast, up to a month later than the government's previous forecast, a top official said.
"Most likely in November, maybe by end of November. Testing is going on. Maybe in three-four days we will be able to tell you the date,"the country's upstream regulator, V.K. Sibal, told reporters on the sidelines of a conference on Wednesday.
He said the company would initially pump 15 million metric standard cubic metres a day (mmscmd) of gas from its field in the Krishna Godavari Basin and was likely to ramp up output to 40 mmscmd by February.
On Sept. 1, Petroleum Secretary R.S. Pandey said gas production would begin by the end of October.
Sibal said Reliance's oilfield in the same basin would start production by the end of this month with an initial output of 10,000-15,000 bpd, which would be raised to about 40,000 bpd after drilling of more wells.
He did not say when oil production would rise, but added: "It will be very soon if rigs are available."
Share's of Reliance were down 1.9 percent at 1,890 rupees at 0651 GMT, while the benchmark index had fallen nearly 1 percent.
1 comment:
Good work rishi.
Post a Comment