Not hoarding gas: Reliance Industries
RIL has at all times kept the government informed that the D1-D3 reservoir has thrown up unanticipated surprises and has shared all the relevant information and data," he wrote, adding the company had on several occasions sought appointment of international experts to verify its claims so that "misinformation" could be averted.
Prasad said while, on the one hand, RIL has been accused of escalating costs and, on the other, it is being targeted for expending capital in drilling wells to increase production.
"Four wells drilled after commencement of production in D1-D3 have conclusively proved that drilling additional wells would be infructuous. If the contractor (RIL) were really to benefit from escalating costs, we would have gone ahead and drilled all the wells demanded by DGH at an additional expense of nearly USD 2 billion," he wrote.
Instead, RIL has cut back on all infructuous expenditure and scaled down cost estimates by nearly USD 3 billion as all technical information now available showed that adding new wells in D1-D3 field would not add to production, he added.
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