In a significant development India’s industrial giant Reliance Industries Limited (RIL) , the country’s biggest private sector company on the basis of turnover, started production of crude oil at KG- D 6 block of the Krishna Godavari basin on September 17,2008 . According to RIL Chairman Mr. Mukesh Ambani , the field would initially produce about 5,000 barrels of crude per day.
Reliance is the biggest exploration acreage holder in the private sector in India. RIL’s exploration and production assets comprise 54 blocks across eight countries. The Company , which boasts of a success ratio of over 60 percent , has so far 42 discoveries to its name . The KG-D6 venture is a first –of its – kind hydrocarbon production from any deep water field in India. The venture is slated to account for 40 percent of India’s current indigenous hydrocarbons production in a matter of one and a half years. According to company estimates, the production from the KG_D6 facility will help the country save a yearly foreign exchange outflow of $20 billion.
The KG-D 6 block (KG-DWN-98/3) was awarded to RIL under the National Exploration Licensing Policy (NELP)- I. In the venture , RIL holds 90 percent participation interest while Niko Resources Limited holds 10 percent. The block is located in the Bay of Bengal, 50 km off the Kakinada coast (Andhra Pradesh), at a depth of 8,000 feet. The company has commenced production within just over two years from the time of oil discovery , making KG-D6 one of the faster Greenfield deep water oil development projects in the world.
India’s current hydrocarbon oil and gas production is 1.3 million barrels of oil equivalent per day (boepd). An initial flow of 5,000 barrels per day is expected to go up to 5,50,000 barrels of oil equivalent over the next six to eight quarters. 5,50,000 barrels per day of hydrocarbons can pump cooking gas to 100-200 million households. 2,000 engineers, technical and management personnel worked on the project.
The vessel employed in the project , Dhirubhai-1 is the first vessel of its kind in Indian waters and has the ability to operate in water depths of greater than 1,200 metres. The vessel boasts of a number of features which can help it withstand harsh sea conditions.
What makes RIL’s feat more special is the fact that production was achieved despite challenges such as harsh environment , lack of data, low seabed, severe temperature , supply-related problems and shortage of competent technicians. The company sources made it clear that the refinery would begin production in the next few months and gas production would commence from early 2009.
Reliance is the biggest exploration acreage holder in the private sector in India. RIL’s exploration and production assets comprise 54 blocks across eight countries. The Company , which boasts of a success ratio of over 60 percent , has so far 42 discoveries to its name . The KG-D6 venture is a first –of its – kind hydrocarbon production from any deep water field in India. The venture is slated to account for 40 percent of India’s current indigenous hydrocarbons production in a matter of one and a half years. According to company estimates, the production from the KG_D6 facility will help the country save a yearly foreign exchange outflow of $20 billion.
The KG-D 6 block (KG-DWN-98/3) was awarded to RIL under the National Exploration Licensing Policy (NELP)- I. In the venture , RIL holds 90 percent participation interest while Niko Resources Limited holds 10 percent. The block is located in the Bay of Bengal, 50 km off the Kakinada coast (Andhra Pradesh), at a depth of 8,000 feet. The company has commenced production within just over two years from the time of oil discovery , making KG-D6 one of the faster Greenfield deep water oil development projects in the world.
India’s current hydrocarbon oil and gas production is 1.3 million barrels of oil equivalent per day (boepd). An initial flow of 5,000 barrels per day is expected to go up to 5,50,000 barrels of oil equivalent over the next six to eight quarters. 5,50,000 barrels per day of hydrocarbons can pump cooking gas to 100-200 million households. 2,000 engineers, technical and management personnel worked on the project.
The vessel employed in the project , Dhirubhai-1 is the first vessel of its kind in Indian waters and has the ability to operate in water depths of greater than 1,200 metres. The vessel boasts of a number of features which can help it withstand harsh sea conditions.
What makes RIL’s feat more special is the fact that production was achieved despite challenges such as harsh environment , lack of data, low seabed, severe temperature , supply-related problems and shortage of competent technicians. The company sources made it clear that the refinery would begin production in the next few months and gas production would commence from early 2009.
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