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Home Uncategorized KG basin gas fields issue hangs fire

KG basin gas fields issue hangs fire

scalesBy NewsGram Staff Writer

New Delhi: The central government is to take a decision within six months of receiving the expert panel report on the dispute between state-run Oil and Natural Gas Corp (ONGC) and Reliance Industries (RIL) over the interconnected gas fields in the Krishna Godavari basin, the Delhi High Court directed on Thursday.

The ONGC plea asking the central government to take a decision was disposed of by Justice R.S. Endlaw while asking all the parties involved in the matter to cooperate with the independent international expert agency, DeGolyer & MacNaughton.

According to ONGC, gas discoveries in its G4 and KG-DWN-98/2 (KG-D5) blocks in the eastern offshore extend into RIL’s KG-DWN-98/3 or KG-D6 block. As a result, it had moved to the high court alleging RIL on grounds of extracting gas upto 18 billion cubic meters from its blocks resulting in loss of several thousand crores of rupees.

ONGC has further claimed that three wells drilled by RIL on the boundary of the KG-D6 block are within a few hundred meters of its gas fields, while RIL vehemently disputes this. Both companies have presented data in support of their claims.

Now, the detailed report is being prepared in this regard for the decision to be taken.

 

(With inputs from IANS)

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