Reliance’s find at MJ1 may hold 1.4 trillion cubic feet of gas

[Hindustani78]

Reliance’s find at MJ1 may hold 1.4 trillion cubic feet of gas | Business Line

Our Bureau
Mumbai, April 7:
Reliance Industries may have hit upon a very significant gas discovery in the MJ-1 field of the KG-D6 basin, which is estimated to hold about 1.4 trillion cubic feet of gas resources (tcfe), RIL’s Canadian partner in the block Niko Resources revealed in a statement.

At 1.4 tcfe, the gas find would be among the biggest in the block.

MJ-1 is located in the Central (North) fault block, over 2,000 m below the already producing reservoirs in the Dhirubhai 1 and 3 gas fields.

For Niko, Deloitte evaluated the contingent resources for the MJ discovery and its best case estimate puts the total amount of available resources at 1.4 tcfe.

The lower end of the estimate is at 988 tcfe while Deloitte’s optimistic number is for 2 tcfe.

Niko has a 10 per cent working interest in the D6 block, which is operated by RIL (with 60 per cent interest). The remaining 30 per cent is owned by BP.

Development planning
Niko has said that the operator of the D6 Block (RIL) has confirmed the appraisal work and development planning work is currently under way. “The operator is actively pursuing related studies.”

RIL declined to comment on the find.

(This article was published on April 7, 2015)

 

[The Huskar]

Reliance’s find at MJ1 may hold 1.4 trillion cubic feet of gas | Business Line

Our Bureau
Mumbai, April 7:
Reliance Industries may have hit upon a very significant gas discovery in the MJ-1 field of the KG-D6 basin, which is estimated to hold about 1.4 trillion cubic feet of gas resources (tcfe), RIL’s Canadian partner in the block Niko Resources revealed in a statement.

At 1.4 tcfe, the gas find would be among the biggest in the block.

MJ-1 is located in the Central (North) fault block, over 2,000 m below the already producing reservoirs in the Dhirubhai 1 and 3 gas fields.

For Niko, Deloitte evaluated the contingent resources for the MJ discovery and its best case estimate puts the total amount of available resources at 1.4 tcfe.

The lower end of the estimate is at 988 tcfe while Deloitte’s optimistic number is for 2 tcfe.

Niko has a 10 per cent working interest in the D6 block, which is operated by RIL (with 60 per cent interest). The remaining 30 per cent is owned by BP.

Development planning
Niko has said that the operator of the D6 Block (RIL) has confirmed the appraisal work and development planning work is currently under way. “The operator is actively pursuing related studies.”

RIL declined to comment on the find.

(This article was published on April 7, 2015)

 

[Khalid Newazi]

If true,this is beyond phenomenal.The proven gas reserves of Iran hold 15.8% of world's gas reserve is 1.086 trillion cubic feet.

WHAT? I think you are confusing something here. Iran's gas reserve is 33 trillion cubic metre (not cubic feet).

 

[SuperSubrayan]

WHAT? I think you are confusing something here. Iran's gas reserve is 33 trillion cubic metre (not cubic feet).

Thats total reserve of Iran . This is in one block . For 1 block it's the highest as per

 

[Hindustani78]

Mukesh Ambani, CMD, Reliance Industries Limited along with Bob Dudley, CEO, BP Group addresses a press conference, in New Delhi today. | Photo Credit: Kamal Narang

http://www.thehindu.com/business/In...kg-d6-basin/article19064623.ece?homepage=true

To produce 1 bcf of gas per day from 2020
Mukesh Ambani led Reliance Industries (RIL) and British energy giant BP Plc. have agreed to invest ₹40,000 crore ($6 billion) in developing discovered gas fields in the Krishna Godavari (KG) basin’s block KG-D6 after a lull of six years.

It includes development of ‘R-Series’ deep water gas fields in Block KG-D6 off the eastern India, which alone is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

“This is the first of three planned projects in Block KG-D6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources. RIL and BP plan to submit development plans for the next two projects for Government approval before the end of 2017,” said a RIL statement adding that the investment expected to bring a total of 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production on-stream, phased over 2020-2022.

Mr. Ambani, CMD of RIL, said: “We are delighted to progress these developments, which will provide India with much needed indigenous energy and support the Prime Minister’s call for import substitution and the development of a gas-based economy. The solid relationship between our two companies is a great example of what can be achieved while working together at scale.”

Welcoming the investment Bob Dudley, BP Group Chief Executive, said, “This is an important step forward for BP in India. Working closely together, Reliance and BP are now able to develop these major deep water gas resources offshore India efficiently and economically. It is testament to our commitment to working in partnership with Reliance and with the Government to produce more energy in India, for India.”


India consumes over 5 billion cubic feet a day of natural gas and aspires to double gas consumption by 2022. Gas production from the integrated development is expected to help reduce India’s import dependence and amount to over 10% of the country’s projected gas demand in 2022 or substituting $20 billion worth on LNG imports.

The implementation of other two projects in Block KGD6 is subject to applicable regulatory and Government approvals.

Expanding partnership

RIL and BP will expand their existing partnership for strategic cooperation on new opportunities across India’s energy sector. Under the agreement the two companies will jointly explore options to develop differentiated fuels, mobility and advanced low carbon energy businesses in India, as India transitions to a low-carbon world.

The companies expect to collaborate, in addition to the conventional transportation and aviation fuels retailing, on unconventional mobility solutions, addressing electrification, digitization and disruptive mobility trends. Together, these collaborations will seek to address the mobility needs of urban, rural/farm, industrial/commercial, and highway consumers in India, applying the leading capabilities of both partners.

 

[Hindustani78]

http://www.thehindu.com/business/Ec...lite-fields/article19877349.ece?homepage=true

NEW DELHI, October 17, 2017 21:25 IST
Updated: October 17, 2017 21:25 IST

Deep dive: In all, 5-6 gas producing wells will be drilled. Peak output may be in the range of 10-12 mmscmd.


Move may help bring to production six discoveries in the KG-D6 block by 2022
Reliance Industries and its partner BP Plc will invest about $1.5 billion to bring to production six satellite gas discoveries in the flagging KG-D6 block by 2022.

The RIL-BP combine had, on Monday, submitted to the Directorate General of Hydrocarbons a field development plan for what are known as satellite and other satellite fields, sources with direct knowledge of development said.

They plan to develop four deepsea satellite gas finds, named D-2, 6, 19 and 22, together with two other nearby finds, D-29 and D-30, in the Krishna Godavari basin block.

In all, 5-6 gas producing wells will be drilled and tied to production facilities, they said, adding peak output may be in the range of 10-12 million standard cubic metres per day. The four satellites and the two other satellite finds (D29 and D30), R-Series and MJ gas discoveries, are the ones for which RIL and BP had, in mid-June, announced an investment of ₹40,000 crore to reserve the flagging production from the KG-D6 block.

Sources said development of the six satellite finds are being taken up together while D-34 or R-Series and D-55 (MJ) would have separate development plans. The government had, in 2012, approved a $1.529 billion plan to produce 10.36 million standard cubic meters per day of gas from four satellite fields of block KG-DWN-98/3 (KG-D6) by 2016-17. The four fields have 617 billion cubic feet of reserves and can produce gas for eight years.

However, the firms did not begin the investment citing uncertainty over gas pricing. Now that the Centre has allowed a higher gas price of $6.3 per million British thermal unit for yet-to-be-developed gas finds in difficult areas like the deepsea, RIL and BP have decided to take up their development.

This rate is comparable with $2.89 per mmBtu for currently producing fields.

Sources said these four finds are now being clubbed with D29 and D30 discoveries, which had been held up over conformity tests.

‘D-34 plan stays’

The RIL-BP combine does not plan to alter the $3.18 billion investment plan for the D-34 or R-Series gas field in the same block, which was approved in August 2013.

About 12.9 mmscmd of gas for 13 years can be produced from D-34, estimated to hold recoverable reserves of 1.4 trillion cubic feet. A separate development plan for the MJ find would be submitted by mid-2018, the sources said.