Reliance Industries will spend Rs 17,000 crore in oil and gas exploration over the next few years, a company official said on Thursday.
Reliance will invest Rs 9,000 crore as risk capital over the next two years and another Rs 8,000 crore to meet the minimum work commitment on blocks it has won in the NELP rounds, RIL Vice President E V S Rao said at an industry seminar in Delhi.
He said the company has already has invested Rs 9,000 crore as risk capital that yielded the nation’s largest gas discovery in deep sea.
Reliance is developing KG-D6 gas find in Krishna Godavari basin to bring them to production in second half of 2008.
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