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OIL & GAS
 
Vol. VIII Issue. 52
RIL warns of further KG-D6 output drop if govt doesn't approve budget

12 June 2012

June 12, 2012. With KG-D6 output hitting an all- time low, Reliance Industries has warned that production will continue to decline as government is not approving investments needed to boost output. RIL also threatened it would seek damages for the drop in output which was a direct result of government not approving several of its investment plans for the flagging gas fields. While the government-controlled block oversight committee is supposed to approve spending before beginning of a fiscal, in case of KG-D6 budgets and work programmes for 2011-12 as well as 2012-13 have so far not been approved, the company's counsel wrote to the oil ministry.

      
 
 
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