Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to begin the delayed production from the second wave discoveries in its eastern offshore Krishna Godavari basin KG-D6 block in November/December (2020), the conglomerate said in an investor presentation.
RIL is currently working on three projects in the KG-D6 block, where production from older fields was halted in February this year. Of the three fields, R-Series will be the first to go live.
The Mumbai-headquartered oil-to-telecom conglomerate said in an investor presentation after announcing its second-quarter earnings that all wells have been “drilled, completed, tested and connected” and all “sub-sea installation and testing works (have been) completed.”
Balance works on control and riser platform are currently underway and “pre-commissioning and commissioning is expected in 3Q FY21,” it said.
An official of a firm which has contracted gas from the field, said Reliance had previously indicated November as the month for start of production.
Gas from R-Series field was previously expected in June but COVID-19 lockdown disrupted the supply chain and the company could not complete the project in time.
Reliance and its partner BP are developing three sets of discoveries in the KG-D6 block – R-Cluster, Satellites, and MJ by 2022. Peak output of around 28 million standard cubic metres per day is expected by FY24 when all three projects are up and running.
R-Cluster will have a peak output of 12 mmscmd, while Satellites, which are supposed to begin output from third quarter of the 2021 calendar year, will produce a maximum of 7 mmscmd. MJ field will start production in third quarter of 2022 and will have a peak output of 12 mmscmd.
Reliance in November last year auctioned the first set of 5 mmscmd of gas from the newer discoveries in the KG-D6 block by asking bidders to quote a price (expressed as a percentage of the dated Brent crude oil rate), supply period, and the volume of gas required.
(With inputs from PTI.)
Courtesy – businesstoday