KG Basin: Reliance – Answer to India’s energy problem
In September 2009, the Directorate General of Hydrocarbons (DGH) said that the gas output from only the fields managed Reliance Industries Ltd. (RIL) could be almost 4 times the levels committed by the company so far.
The mammoth implication of these figures lies in its oil equivalence. Totaling about 2 million barrels of oil per day, it wholly covers India’s current consumption of oil. Ironically, most of this oil is imported by the country. However, the nation’s gas consumption is over and above this expected output.
Yet, if both DGH and RIL confirm this production potential, it would mark the most significant energy development India has ever seen!