New Delhi: The government has sought $1.55 billion from Reliance Industries and its partners for drawing natural gas belonging to state-owned ONGC in the KG basin over the last seven years. The oil ministry has sent a notice to RIL seeking $1.55 billion compensation, sources privy to the development said. As much as 11.122 billion cubic metres of ONGC gas had migrated from its Godavari-PML and KG-DWN-98/2 blocks to adjoining KG-D6 of RIL between 1 April 2009 and 31 March 2015. While ONGC’s reservoirs have almost emptied, RIL continues to produce gas from D1&D3 fields in KG-D6 block, some of it belonging to ONGC. The report projected a higher proportion of gas migration and its production through RIL operated KG-DWN-98/3 (KG-D6) block by the end of 2019.

Source: Mint November 04, 2016 09:09 UTC