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HomeBusinessONGC gas worth Rs. 9000 crore may have flown to RIL

ONGC gas worth Rs. 9000 crore may have flown to RIL

US-based consultant DeGolyer and MacNaughton (D&M)has, in a draft report submitted to the petroleum ministry stated that, at least, 9 billion cubic meters of natural gas valued at around Rs 8,600 crore may have flown from ONGC’s idle Bay of Bengal fields to adjoining KG-D6 fields of Mukesh Ambani-led Reliance Industries Limited (RIL).

Senior officials confirmed that D&M on Friday submitted to the two firms as well as the directorate general of hydrocarbons (DGH) a draft report stating that ONGC’s Godavari Block (known as G-4) is contiguous to RILoperated Block KG-DWN-98/3 (KG-D6).

The parties will now get an opportunity to comment on the draft findings before D&M prepares the final report. Officials said that D&M is of the opinion that there exists one big gas resource several meters below sea bed which extends from G-4 to KG-D6.

DGH had erred in drawing the boundaries of the blocks by ignoring the seismic data on presence of the reservoir and drew lines that bifurcated the reservoir rather than making it part of one block.

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