NEW DELHI, India --Reliance Industries plans to spend $5.2 billion to develop gas fields offshore India's southeast coast, according to P.M.S. Prasad, Reliance president for oil and gas. Contracts for $4.5 billion already have been signed, he says.
"Investment has already been committed to ensure that all suppliers meet their deadlines, which will enable us to start gas production on target in 2008," Prasad said.
The gas field, scheduled to start production in June 2008, will reach a peak of 80 MMcm/d (2,825 MMcf/d), Prasad said. Of this, the company will use 25 MMcm/d (883 MMcf/d) for its own power and chemical plants. Dhirubhai-1 and Dhirubhai-3 fields in block KG-D6 in Krishna Godavari basin are the targets of the development, reports say.