RIL to drill three more wells in KG basin block
Following the hammering of Mukesh Ambani-owned Reliance Industries’ stocks on the bourses on Friday, the company said it would drill three more wells in the Krishna-Godavari basin block where the exploratory well KG-D9-A1 was abandoned owing to poor gas find. “RIL remains committed to pursuing exploration campaign in,” the company said in a statement here after its stocks slid on the stock exchange on news of exploratory failure. The company denied rumours that it was quitting the KG- DWN-2001/1, in the vicinity of its prolific KG-D6 gas field, saying it would incorporate data and information from the first unsuccessful well in future drilling. “While encountering some background gas while drilling, the well encountered poor reservoir sands in both the middle and lower miocene target levels,” the firm said in a statement.
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