MUMBAI, Sept 21 (Reuters) - Reliance Industries will start pumping natural gas from its deep-sea block early next year, putting India's most valuable firm on track to earn a quarter of its profit from oil and gas production, Chairman Mukesh Ambani said.
The field is located in the Krishna-Godavari Basin, where the firm started pumping crude oil last week, and total hydrocarbon output from the block would rise to 550,000 barrels of oil equivalent per day (boed) in six to eight quarters, Ambani told journalists on Sunday. Ambani said this would amount to about 40 percent of the current indigenous production in the energy-starved country, which imports 70 percent of the oil it consumes.
Full Story: KG Basin gas to lift Reliance profit - Ambani - Reuters India
The field is located in the Krishna-Godavari Basin, where the firm started pumping crude oil last week, and total hydrocarbon output from the block would rise to 550,000 barrels of oil equivalent per day (boed) in six to eight quarters, Ambani told journalists on Sunday. Ambani said this would amount to about 40 percent of the current indigenous production in the energy-starved country, which imports 70 percent of the oil it consumes.
Full Story: KG Basin gas to lift Reliance profit - Ambani - Reuters India
