The news of RIL surrendering KG blocks to anyone is purely unjustified and completely unauthenticated.
In a statement, RIL has said “RIL remains committed to pursuing the exploration campaign within this block and will incorporate data and information from this well to upgrade the prospect inventory for
drilling of three more wells. Any rumour of RIL surrendering this block is completely
baseless and unsubstantiated.”
The company has concluded the drilling of the first exploratory well no. KG D9-A1 in the deepwater block KG-DWN-2001/1 (KG D9). The well encountered sands in both the upper and lower Miocence target levels with some background gas.
RIL would continue the exploration campaign within this block and will incorporate data and information from this well to upgrade the prospect inventory for drilling of three more wells. Any rumour of RIL surrendering this block is completely baseless and unsubstantiated, the company release said.
Reliance Industries Limited is the operator and holds a 90 per cent participating interest in the block. Hardy, through its wholly owned subsidiary Hardy Exploration & Production (India) Inc., holds a 10 per cent participating interest.
Labels: KG Basin, Mukesh Ambani, Reliance, RIL