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KG basin News

Oil and Natural Gas Corp

11 Apr 2018

ONGC, Reliance in talks with customers to sell east coast gas

The plan is to transport the gas from the east coast to the industrial heart belt of western India, an ONGC executive told Reuters.

Oil and Natural Gas Corporation

27 Jun 2017

ONGC gets green nod for exploratory drilling in KG basin

The current production of oil and gas is 750-800 tonnes per day and 2.5-3 million cubic metres of gas, respectively, from various facilities in this area.

Reliance Industries

20 Mar 2017

RIL's KG-D6 gas output drops to 9% of target: Pradhan

RIL and its partners BP plc of UK and Canada's Niko Resources produced less than 16 percent of the 31,793.28 million standard cubic meters (mmscm) target from KG-DWN-98/3 or KG-D6 block in 2013-14.

04 Nov 2016

ONGC gas row: Govt imposes $1.55 billion demand on Reliance Industries and its partners BP, Niko

Government has slapped a USD 1.55 billion demand on Reliance Industries and its partners BP and Niko for "unfairly enriching" by producing natural gas belonging to state-owned ONGC, a move that is most likely to land in arbitration.

28 Mar 2016

ONGC to invest $5 billion to develop KG basin oil and gas block

State-owned ONGC on Monday announced USD 5.07 billion investment in its KG basin oil and gas block but the delay on government's part in approving a higher gas price for difficult areas would mean the output would be delayed by one year to 2019-20

04 Feb 2016

Govt's gas pricing formula not viable to develop KG gas: ONGC

State-owned Oil and Natural Gas Corp (ONGC) has sent an urgent message to Petroleum Ministry, saying the natural gas prices according to a formula approved by the BJP-led government was not viable to develop its KG basin discoveries.

02 Aug 2015

Production from GSPC fields in KG basin faces delay

Nearly a year after beginning trial gas production and investing USD 3.4 billion, Gujarat's GSPC is yet to start commercial production from its Deen Dayal discoveries in KG basin.

26 Apr 2015

Oil Ministry rejects RIL arbitration notice, terms it 'untenable'

The ministry held that the move is in accordance with the provisions of the contract and there's no dispute that needs to be arbitrated upon.

16 Jan 2015

Gas exploration from KG basin: Respond to CAG report, SC to RIL

The CAG, in its report tabled in the Parliament, found irregular payment of USD 427.48 million to contractors, of which it sought disallowance of at least USD 77.36 million cost.

Gujarat government

17 Dec 2014

Centre overrules Gujarat govt firm's demand for $8.5 gas price

The Centre has overruled Gujarat government-owned firm GSPC's demand for a gas price of USD 8.5 for its KG basin Deendayal field, saying the approved rate of USD 5.05 will apply on the company.

07 Dec 2014

ONGC to spend Rs 16,200 cr to drill 45 wells in KG-Basin

The oil and gas major has approached the Ministry of Environment and Forests seeking clearance for preparing terms of References, according to the minutes of meeting of Expert Appraisal Committee.

26 Nov 2014

Expert report on ONGC-RIL gas dispute by June: Pradhan

International expert D&M will by June next year submit its report on ONGC's claims of gas from its KG basin find seeping into the neighbouring gas field operated by Reliance Industries, Oil Minister Dharmendra Pradhan has said.

02 Sep 2014

ONGC says needs $6-7.15 gas price to break-even

Pitching for a higher remunerative price for natural gas, state-owned Oil and Natural Gas Corp (ONGC) has said it needs USD 6-7.15 to break-even on gas it plans to produce from its most prolific KG basin block.

25 Jul 2014

KG basin dispute: Fresh plea for appointment of arbitrator

A fresh plea was today made in the Supreme Court for appointment of a third arbitrator to resolve the dispute between the Centre and Mukesh Ambani-led Reliance Industries Ltd (RIL) on KG basin in the wake of an Australian judge recusing himself.

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