RIL Gain $80b – India’s KG-D6 Basin Damage $1-2 Trillion 

 Researcher view:

August04, 2018 (C) Ravinder Singh progressindia2015@gmail.com

RIL was solely operating KG Basin since acquiring 28 Offshore Blocks 1999 onwards, KG D6 in 1999. Reported discoveries exceed 1.83 Trillion M3 plus some Crude Oil also – so I take the round figure of 2 Trillion M3 of Gas in KG Basin.

RIL is currently producing 1200 Barrels of Oil [10 Medium Truckload] & 3.1 Million M3 of Natural Gas Per Day – just 2.6% of Rated Capacity of 120 Million M3 per day.

This is DAMAGE to the $2 Trillion KG Basin Oil & Gas Reserves.

‘KG D6 field produced 0.14 MMBBL of crude oil and 13.24 BCF of natural gas in 1Q FY19, lower by 39% and 35% respectively on a Y-o-Y basis. Fall in oil and gas production was mainly on account of natural decline, compounded by water and sand ingress.’

In my petitions around the time Crude Oil prices were in $100-$150/barrel – Petrol was retailed at $1.5 per liter, Diesel, LPG & Kerosene was heavily subsidized – I assumed $1 per M3 as retail value of CNG. This is $2 Trillion.

After delayed commission of 120 Million Cubic Meter Per Day Capacity – 10 years after Acquiring License in 2009 – means 40 Billion M3 annual product last year reported was 5 Billion M3.

CAG reported RIL was DRILLING IN ONGC & GSPC Owned Blocks – It was HORIZONTAL DRILLING UPTO 14 Kilometers that Damaged the KG Basin Oil & Gas Reserves.

RIL in 2005 DIVERTED PUBLIC MONEY ON ‘RETAIL, REFINERIES and from 2010 on JIO’.

RIL gained Rs.5,00,000 Cr in Capitalization when India suffered say $500b On Oil & Gas Production and Retail.

ONGC even Lost CLAIMS of $1.55b for 13.24 Billion Cubic Feet of gas.

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857

Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,

Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects

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