Gujarat Petroleum embarrassed over 44 tcf gas claims

Vol 6, PW 19 (20 Nov 02) News in Brief

This was one piece of publicity Gujarat Petroleum feels it could have done without.

Soon after Reliance announced 7 trillion cubic feet gas reserves in KG-DWN-98/3, the Ahmedabad edition of Business Line (later reproduced by the Economic Times) carried a news item quoting an unnamed Gujarat Petroleum source saying that its NELP-III Krishna Godavari block KG-OSN-2001/3 next door to Reliance holds 44 tcf. On publication, Gujarat Petroleum was embarrassed, not least because it hasn't yet been formally awarded the NELP-III block! Also, the claim seemed sensational, if not silly in the absence of fresh seismic or data from exploration wells.

"The story is the result of the wild imagination of some journalist," Gujarat Petroleum tells us. "We have no such figures before us.

It's premature to talk of reserves before we get the block and begin exploration. All we have so far are data packages like other bidders." (See also: 10-GSPC almost disqualified for KG-OSN-2001/3 bid)