Reliance Industries has said it will give up about 56 per cent of “low prospectivity area” in its eastern offshore KG-D6 block to retain only the portion where oil and gas discoveries have been made.
In an investor presentation after announcing the January- March quarter financial results, RIl said a “proposal for relinquishment of low prospectivity area (has been) submitted” to the Government.
Only “3,412 square kilometers of area” out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block will be retained, it said.
The area RIl intends to retain contains 18 gas and one oil discoveries including the currently producing Dhirubhai-1 and 3 (D1&D3) gas and MA oil and gas fields.