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Reliance files plan for largest gas find
By siliconindia staff writer
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Tuesday, 15 June 2004, 19:30 IST
CALGARY: Reliance Industries has filed a multibillion-dollar plan to develop the country's largest gas find, with production starting in August 2006, its Canadian partner said on Monday.
Under the plan, which was submitted to the new government last week, gas from the huge D6 discovery off the country's east coast would initially flow at up to 500 million cubic feet a day.
The first phase would cost about $500 million, said Edward Sampson, chairman of Calgary-based Niko Resources.
Niko has a 10 per cent stake in the two-year-old discovery, which has reserves pegged at nearly 9 trillion cubic feet of gas in place.
"The development plan was submitted last week to the government of India and a lot of the leg work has been done," Sampson told reporters after speaking to an energy conference.
The plan includes production facilities, well tie-ins, proposals for buying land and prospects for gas sales, Sampson said.