Reliance Industries Ltd.

After D-6 in the Krishna-Godavari basin, Reliance Industries has struck big in two nearby blocks, with estimates putting the natural gas reserves at 20 trillion cubic feet (tcf). D-3 and D-9 blocks in the same K-G basin may hold 9.5 tcf and 10.8 tcf of gas reserves, respectively, UK-based Hardy Oil and Gas Plc said in a statement.

Hardy, which cited estimates by independent consultant Gaffney, Cline and Associates, has 10 per cent stake each in the two blocks where Reliance is the operator, with 90 per cent interest. D-6, which may hold up to 50 tcf of gas reserves, began production last month and is slated to double India’s natural gas production by year-end when it reaches 80 million cubic metres per day.

The two discoveries on D-3, in conjunction with the acquisition of risk mitigating technologies and geotechnical studies have resulted in the upward revision of the perceived Geological Chance of Success on both of its Krishna-Godavari basin blocks.