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Alloted time for RIL expires

Alloted time for RIL expires
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Alloted Time For RIL Expires, Government Asks RIL To Surrender 81% of KG-D6 Gas Block. The government on Wednesday asked Reliance Industries to give...

New Delhi: The government on Wednesday asked Reliance Industries to give up 81 per cent of its KG-D6 gas block, including five discoveries, as the time allocated for producing from them had expired.

“I think the notice (for relinquishment) has gone. If it hasn’t yet gone, it will go today (on Wednesday). We plan to send them the notice today (Wednesday),” oil minister M.Veerappa Moily said here.

The oil ministry wants RIL and its partners BP plc of UK and Canada’s Niko Resources to give up 6,198.88 square kilometres out of a total 7,645 sq km area in KG-D6 block, by retaining only the portions where regulator DGH-recognised discoveries have been made.

The area sought is more than 5,367 sq km area that RIL had offered to relinquish and includes five discoveries — D4, D7, D8, D16 and D23 for which the DGH had opined that RIL missed deadlines for submission of investment plans.

“We discussed the issue threadbare and after analysing it have reached to this conclusion that they (RIL) need to relinquish certain area as per the production sharing contract (PSC),” he said.

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