In a history-making feat that has
scripted a new screenplay for the
country's energy sector, Mukesh Ambani-led Reliance Industries
Ltd., (RIL) has kick-started natural gas production from its D-6 block in
the Krishna-Godavari (KG) basin. The beginning of gas flows from the deep
waters of the Bay of Bengal has been seen as a quantum leap towards
achieving India's energy security. Interestingly, the move has created a new
benchmark for deep-sea developers across the world when RIL took just
six-and-a-half years from discovery to gas
production, as against the global practice of 9-10 years. With this, RIL can boast of
having one of the world's largest deep water production facilities.
In fact, the KG-D6 block in Krishna Godavari basin was awarded to
RIL-Niko consortium in the first round of New Exploration Licensing
Policy (Nelp-I). RIL holds 90% Participating Interest (PI), while Niko Resources
Limited holds 10% PI in the block. RIL's other partners in the project
execution include Aker Kvaerner Group, Allseas, Afcons, Bechtel, Cameron,
GE, Halliburton, Hellix, L&T, McDermott, Schlumberger, Siemens,
Transocean, and so on. As Dhirubhai 1 and 3, the
first two of the 18 gas finds in KG-D6 block, are finally put to production, they
are poised to spur power supply from idle generators starved of fuel and
generate cheaper urea for agriculture. Industry analysts opine that the
development would reduce wealth transfer from
India to other nations due to energy imports, while supply of gas to the core
sectors would also bring down subsidy and costs in the fertilizer, power and
transportation sectors. It would further augment chances of foreign investments in oil
and gas exploration in India.
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