Krishna Godavari Basin
Krishna-Godavari Basin is a peri-cratonic passive margin basin in India. It is spread across more than 50,000 square kilometers[1] in the Krishna River and Godavari River basins in Andhra Pradesh. The site is known for the D-6 block where Reliance Industries discovered the biggest natural gas reserves in India in 2002. It was also the world's largest gas discovery of 2002.[2]
Discoveries
It was in 1983 that Gas was first struck in Rajole Well No.1 when ONGC had a small office in Rajahmundry and Narsapur that was headed by Iqbal Farooqi. Since that discovery there had been no looking back. Reliance and others are late players in that area.
- 14 trillion cubic feet of gas by Reliance Industries in KG-DWN-98/l (KG-D6) in 2002.[3] 6000 feet below the sea floor. [4]
- 20 trillion cubic feet (5.7×1011 m3)cubic feet of gas by Gujarat State Petroleum Corporation in June 2005.[5]
- 20 trillion cubic feet (5.7×1011 m3) of gas at D-3 and D-9 blocks by Reliance Industries in May 2009. [6]
- 10 trillion cubic feet (2.8×1011 m3) of gas by ONGC in June 2009. [7]
Ecology
The basin is home to Olive Ridley turtles, an endangered species [8]
Corruption by Reliance Industries
CAG report on Krishna Godavari Basin clearly concludes the following irregularities by Reliance Industries:
- Eliminated competition in contracts.
- Awarded contracts at unreasonable rates.
- Directly notified oil and gas discoveries without informing government
- Profit sharing mechanism with Government was designed in late 1990s
- RIL and GAIL Made profits by purchasing gas at a price of USD 4.2 per million British thermal units where the price of imported LNG ranges between USD 12 and USD 17 per mmBtu resulting net loss to exchequer.
Projects
KG-DWN-98/1 (KG-D6) - 8100sq km. The total project is expected to cost $100 billion. [13] 50km off the coast of Kakinada. [14]
References
- ↑ "A unique and lucrative basin". January 18 - 31, 2003. http://www.hinduonnet.com/fline/fl2002/stories/20030131005210200.htm. Retrieved 3 August 2009.
- ↑ Reliance gas-find 40 times bigger than Bombay High
- ↑ "KG-DWN-98/1 (KG-D6), Bay of Bengal". Offshore Technology. http://www.offshore-technology.com/projects/bayofbengal/. Retrieved 2010-08-14.
- ↑ "Reliance gas-find 40 times bigger than Bombay High". rediff.com. 2002-10-31. http://www.rediff.com/money/2002/oct/31ril.htm. Retrieved 2010-08-14.
- ↑ Record gas discovery in India could hit projects
- ↑ RIL strikes 2 more gas reserves in KG basin
- ↑ ONGC scores hat-trick on gas discoveries
- ↑ Oil cos stumble on Olive Ridley ground
- ↑ http://indiatoday.intoday.in/story/cag-report-on-kg-basin-puts-ril-in-the-dock%E2%80%8E/1/150531.html
- ↑ "GAIL making illegal profits by diverting its share of KG gas: Ramsinh Rathwa, BJP MP". The Times Of India. 2011-11-21. http://articles.economictimes.indiatimes.com/2011-11-21/news/30424597_1_kg-d6-tapti-gas-allocation.
- ↑ http://www.moneycontrol.com/news/business/rils-new-gas-finds-not-viable-at-usd-42mmbtu-price-dgh_590546.html
- ↑ http://www.financialexpress.com/news/Reliance-violated-contract-terms-in-KG-Basin--finds-CAG-report/843940/
- ↑ "Specifications: KG-DWN-98/1 (KG-D6), Bay of Bengal". Offshore Technology. http://www.offshore-technology.com/projects/bayofbengal/specs.html. Retrieved 2010-08-14.
- ↑ "Reliance completes one year of gas production in KG Basin". Chillx.info. 2010-04-02. http://www.chillx.info/world/reliance-completes-one-year-of-gas-production-in-kg-basin/. Retrieved 2010-08-14.
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