BLBG : Reliance, Partner May Earn $10.6 Billion From Indian Gas Field
Reliance Industries Ltd., India’s most valuable company, and its partner may earn $10.63 billion from selling natural gas from the nation’s largest gas field, according to an advertisement by the Directorate General of Hydrocarbons in the Hindustan Times today.
The government may earn $16.57 billion from the KG-D6 field off India’s east coast, the oil and gas regulator said in the advertisement. Total revenue from the field, which holds reserves of 10,027 billion cubic feet of gas, may be $38.27 billion, it said.
Manoj Warrier, a spokesman for Reliance Industries, said he couldn’t immediately comment on the advertisement. V.K. Sibal, the director general of hydrocarbons, declined to comment.
Reliance Industries has 90 percent stake in the KG-D6 field and Calgary, Canada-based Niko Resources Ltd. owns the rest.
To contact the reporter on this story: Rakteem Katakey in New Delhi at rkatakey@bloomberg.net.