RIL and Niko to boost oil production

Jun 21, 2007 02:00 AM

India's Reliance Industries and its joint venture partner Niko Resources will produce between 30,000 and 50,000 barrels of oil a day from an offshore block in Eastern India from March 2008, Niko said.
The block is located in the D6 gas field, with oil production seen as an upside potential.

“The oil is light and loaded with condensate-rich gas. An option for us will be to sell it in the spot market," Niko chief executive Edward Sampson as saying.
Reliance owns a 90 % stake in D6, with Canada-based Niko holding the remaining 10 %.

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