22-05-08 India's largest private sector company Reliance Industries Ltd. (RIL) said it surrendered to the Directorate General of Hydrocarbons three blocks in the Kerala-Konkan basin, allocated to it during the second round of the New Exploration and Licensing Policy (NELP-II).
RIL said it carried out the minimum work obligation in the blocks KK-OSN-97/2, KK-DWN-2000/1 and KK-DWN-2000/3 and decided not to enter the subsequent phase and is surrendering the blocks per the production sharing agreement.

"Despite best efforts the hydrocarbon prospectivity in this [Kerala-Konkan] basin is perceived to be very poor," RIL said.
The poor prospectivity of the basin is also evident from NELP-VI round in which the basin could not attract bids for two blocks and the third block was awarded on a single bid, RIL added.