Drilling of the first exploratory well KGD9-A1 in the deepwater block KG-DWN-2001/1 (KG D9) has been concluded.
The well encountered sands in both the upper and lower Miocence target levels with some background gas. The data obtained from this first exploration parametric well is significant and will be integrated with the existing geological model to improve the understanding of the geology and petroleum system within the block before drilling subsequent wells. There is a commitment to drill 3 more wells in this block.
RIL remains committed to pursuing the exploration campaign within this block and will incorporate data and information from this well to upgrade the prospect inventory for drilling of three more wells. Any rumour of RIL surrendering this block is completely baseless and unsubstantiated.
Reliance Industries Limited is the operator and holds a 90 per cent participating interest in the block. Hardy, through its wholly owned subsidiary Hardy Exploration & Production (India) Inc., holds a 10 per cent participating interest.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of Rs. 1,46,328 crore (US$ 28.85 billion), cash profit of Rs 22,365 crore (US$ 5.08 billion), net profit (excluding exceptional income) of Rs. 15,637 crore (US$ 3.02 billion) and net worth of Rs 126,373 crore (US$ 24.92 billion) as of March 31, 2009.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 117th amongst the world's Top 200 companies in terms of profits. RIL ranks 75th in the Financial Times FT Global 500 list of the world's largest companies. RIL is rated as the 15th ‘Most Innovative Company' in the World in a survey conducted by the US financial publication Business Week in collaboration with the Boston Consulting Group.
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