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Reliance Industries and BP start up second deepwater gas field in India’s KG D6 block

RELIANCE

Reliance Industries (RIL) and and BP on April 26 announced commencement of production from the Satellite Cluster gas field in block KG D6, situated off India’s eastern coast.

“The Satellite Cluster is the second of the three developments to come onstream, following the start-up of R Cluster in December 2020. It had originally been scheduled to start production in mid-2021,” RIL said in a BSE filing.

The conglomerate said the field is located about 60 km from the existing onshore terminal at Kakinada, Andhra Pradesh in water depths of up to 1,850 meters.

The field will produce gas from four reservoirs, and is expected to reach gas production of up to 6 mmscmd, RIL said.

“Together, the R Cluster and Satellite Cluster are expected to contribute to about 20 percent of India’s current gas production,” RIL said in the statement.

The third deep-water gas development in the KG D6 block – MJ – is expected to come onstream towards the second half of 2022.

RIL is the operator of the KG D6, block with a 66.67 percent participating interest, and bp holds a 33.33 percent participating interest.

At 09:34 hrs, RIL’s share price was Rs 1,929.50, up 1.32 percent on the BSE.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

News Source:- Moneycontrol

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