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Government awaits D&M’s final report to resolve ONGC-Reliance KG basin row
Posted on 13th October 2015
NEW DELHI: The government will examine whether Reliance Industries deliberately extracted gas from the neighbouring block of the Oil and Natural Gas Corp in the KG basin after it receives the final report on the dispute from an international consultant in about three weeks.

Officials said the issue was complex and the oil ministry will consider various points raised by Reliance and ONGC as well as the report of consultancy DeGolyer and Mac-Naughton (D&M), appointed to assess ONGC's allegation that RIL stole the state firm's gas, to find a way to resolve the dispute.


RIL drilled out atleast 9 BCM of ONGC gas: Expert report
Posted on 12th October 2015
Private explorer Reliance Industries Ltd (RIL) extracted at least 9 billion cubic metres (BCM) of gas from government-owned explorer ONGC’s block in the Krishna Godavari (KG) basin block off the Andhra Pradesh coast, according to a draft report submitted by US-based international consultant DeGolyer and MacNaughton (D&M).

This means, at an average gas price of $4.2/mBtu and exchange rate of Rs 60 against a dollar, RIL drilled gas costing Rs Rs 8000-9000 crore that belonged to ONGC, say two analysts.


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