RIL hits another gas reserve in KG basin

Sep 30, 2008 02:00 AM

Reliance Industries Ltd. (RIL) is learnt to have struck gas in the "L-1" well in the Krishna Godavari (KG) basin.
Although the exact amount of the gas reserve is being ascertained, it is learnt that the discovery may even be bigger than the country's biggest gas field D-6 in the KG basin, which is also owned by the company, said sources in the know. They said RIL would take some more time to quantify the exact size of the reserve.

Confirming this development, a senior RIL official told: "It (the discovery) is definitely a great breakthrough for us."
"The geological structure seems to be exciting and a lot of work needs to be done till we can approximate the reserves in this filed."

Jal Irani, division director -- head of research, India at Macquarie Securities, said: "L-1 discovery will open a new channel complex for RIL. It is like a new river like structure. They are further exploring and are in process of testing this find."
Another analyst said the discovery is significant dueto its proximity to D-6.

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