India Gas Boost

摘要

A new gas and condensate find in the D6 Block off India's east coast could mark a turnaround in Reliance Industries' - and India's - upstream fortunes, after declining output from the flagship D1-D3 fields led to new gas-fired power projects being shelved until 2016 and greater dependence on LNG imports. Canada's Niko Resources, which holds 10% of the block, says resources in the MJ-1 reservoir, home to the D-55 discovery, exceed high-end predrill estimates. Investment bank CLSA puts these at 3.6 Tcf (102 Bern), versus 3 Tcf in D1-D3, India's biggest gas find to date. Reliance holds 60% in the Krishna Godavari Basin acreage and BP 30%.