Reliance cuts proven gas reserves estimates for KG-D6 block

摘要

Reliance Industries Ltd. (RIL) has reduced estimates for proven gas reserves from its blocks by 6.7% to 3.67-tcf (trillion cubic feet), the company said in its annual report for 2011-12, confirming the declining fortunes of its flagship oil and gas discovery in the Krishna Godavari (KG) basin. RIL has cut estimates for its KG-D6 block as the decline in production was higher than anticipated. "The proved reserves have also reduced due to sale of participating interest to BP," the report added. RIL and BP formed a joint venture in 2011 for jointly developing oil & gas.