'Govt yet to sign Oilfield revised plan'
Reliance Industries has said the KG-D6 block oversight panel has approved its revised field development plan for the MA oilfield in the Krishna Godavari basin block but the government nominees haven't signed on the approval for the past three months.
"Revised field development plan (FDP) for MA field (in the predominately gas-rich KG-D6 block) to enhance gas production, submitted in February 2012, was agreed by the Management Committee in August," RIL said its second quarter earnings press statement and investor presentations.
The Management Committee, which is the highest decision making body for an oil and gas field, is headed by the Directorate General of Hydrocarbons (DGH) and also has senior officials of Oil Ministry on it. It also has representatives of the operator (RIL) and its partners (BP of UK and Niko Resources of Canada).
The resolution approving the revised FDP for MA field is yet "to be signed by the Government of India nominees," RIL said.
The revised plan envisages drilling of "additional gas well and conversion of two oil wells in gas to accelerate production of reservoir gas," it added.
RIL is the operator of the KG-D6 block with 60 per cent stake. BP plc holds 30 per cent while Niko has 10 per cent.
RIL has so far drilled six wells on the MA oilfield, the only oil discovery among the 19 oil and gas finds the company had made in the eastern offshore KG-DWN-98/3 or KG-D6 block.
Besides producing oil, the field also produces
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