OIL & GAS

Explained: Why did RIL close production in three fields in the KG Basin?

Till recently, the Krishna Godavari (KG) basin off the Andhra coast was a bed of hope for India’s biggest oil companies. After Reliance Industries Ltd (RIL) was awarded a block in 2000, the private sector oil refiner aimed to overtake government-owned Oil and Natural Gas Corporation (ONGC) to become the country’s biggest natural gas producer.

But earlier this month — 20 years later — RIL decided to cede natural gas production from the Dhirubhai 1 and D Dhirubhai 3 field in KG-DWN-98/3, popularly known as the KG-D6 block. This follows a shutdown of the MA field in

Source
Business Standard
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