Dec 122012

The author has posted comments on this articleTNN | Dec 13, 2012, 06.13AM IST
NEW DELHI: The standing committee on petroleum and natural gas has pulled up the oil ministry for not taking penal action against Reliance Industries Ltd (RIL) for failing to adhere to the approved investment plan, leading to fall in gas output from the company’s Krishna-Godavari (KG) basin field.

In its latest report tabled in Parliament on Wednesday, the panel asked the ministry to strictly monitor implementation of directions issued to RIL for reversing the trend of falling gas output from the field. RIL’s KG-D 6 field has seen output drop from 62-63 mcmd (million cubic metres per day) achieved in August 2010 to 23-24 mcmd at present. The output, as per the approved $8.8 billion investment plan, should have been 80 mcmd as on date.

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