Reports of gas strike by Reliance at NEC-OSN-97/2

Vol 8, PW 2 (21 Apr 04) News in Brief
     

Unconfirmed reports reveal Reliance has struck gas in eastern offshore block NEC-OSN-97/2.

As usual, Reliance declines to comment saying: We are just keeping to the global practices followed by our competitors. We are told Reliance would not like to disclose anything that will give information to a competitor.

According to Reliance: No global oil and gas company discloses anything other than for regulatory purposes, which is what we are also doing. No details are available of the Reliance find on this block, except from Niko Resources, which has 10% equity stake in the block.

Niko discloses that a 3D programme, covering 1,800-sq km, or 12% of the block, has been completed. Utilising the 3D seismic, several rollover anticlines at the Miocene level have been identified.

These structures are smaller than those in Block D-6 (KG-DWN-98/3) with potential reserves in the 1-2 trillion cubic feet range.