"kg-d6-block"

Reliance and its partner UK's BP Plc last week auctioned 5.5 million standard cubic meters per day of incremental gas from the newer discoveries in the KG-D6 block, benchmarking it to a gas marker

Reliance-BP, which had commenced output from R Cluster in December last year, started production from the Satellite Cluster

Expects necessary approval for the independent entity by Q2 of next FY.

The auction was held under the liberalised price discovery rules notified by the government that allowed affiliates of the gas producer to bid and buy natural gas.

According to draft gas sales and purchase agreement (GSPA) Reliance and BP have shared along with price discovery bids for incremental gas from the R-Cluster fields in KG-D6 block

The government wants to promote the use of natural gas as it is cheaper, environment friendly and cuts carbon footprint. 

Reliance is working on three projects in the Krishna Godavari basin KG-D6 block, where production from older fields stopped in February this year