World’s Biggest RIL $Trillion Oil & Gas Robbery of GSPC – Press Alert

 

205bboe Reserves Worth $30 Trillion > RIL & GSPC Production $100b

 

To Press,

 

When India has 205 bboe reserves that at $150 per barrel are $30 Trillion worth but since 1999 India private companies have commercialized just about $100b or less than 0.3%.

 

RIL was found to be Operating in GSPC owned Block with most powerful and deep rigs that could take out all the Oil & Gas of GSPC discovery called ‘Deen Dyal Field.’ CAG report Executive Summary attached. Full report was not allowed to be released for strange reason – unlike dubious 2G report which was by CAG with media publicity.

 

Strangely in Overview ‘Executive Summary Of Biggest Operator in Terms of Oil & Gas Blocks Worth $Trillions Was At The End’ – not independently released like Colorful 2G report.

 

RIL promised ‘If Reliance's projections come true, it will change the entire energy supply chain of the country. This will further mean that projects to import liquefied natural gas in the country will be hit.’

 

RIL in 2002 wanted to kick out LNG operators.

 

Offshore Drilling 65 in 2002-03 to 73 in 2011-12.

 

http://petroleum.nic.in/petstat.pdf

Study of Petrostat Page 17/162 for Offshore Drilling reveal in 2002-03 India was drilling 20 Exploration Wells and 45 Development Wells and total 65 – even after so many Mega Discoveries and allocation of NELP blocks to Private Companies since 1999 – respective figure is just 40, 33 and 73 for 2010-11.

 

But even more shocking is the low Meterage – India Drilled 194,000 meters in 2002-03 but little more 225,000 for 2010-11.

 

So average drilling depth was 2984 meters earlier is barely 3082 meters – almost nothing but RIL hired Drilling Rigs that were 5-10 times costlier. CAG overlooked this also.

 

Page 81/162 gives the comparison of cost of fuels – 16.36 crore tones of petroleum cost Rs. 455909 crores or Rs.27867 per tone whereas LNG cost just half Rs.12719 crores for 0.8949 tones or Rs.14212 per tone. Earlier also it was cheaper and has much higher calorific value.

 

RIL lobbied against Cheaper Green LNG also and India could import just 9 million tones in 2010-11.

 

Related information attached.

 

Ravinder Singh

Progressindia008@yahoo.com

June14, 2012

 

http://www.rediff.com/money/2002/oct/31ril.htm

Reliance gas-find 40 times bigger than Bombay High

Hemangi Balse in Mumbai

Reliance Industries' gas discovery in the Krishna-Godavari basin is expected to

change the energy supply economics in the country with the reserves estimated to be around 40 times bigger than that of the Bombay High field, and double the total gas production of Oil and Natural Gas Corporation.

 

The Ambanis made the announcement on the gas discovery at the company’s

annual general meeting on Thursday.

 

Reliance's gas reserves in its exploratory block KGDN-6, off Vishakapatnam, are to the tune of 40-50 million cubic metres per day and are expected to go up to 100 cubic metres of gas over a 10-year period. Reliance's gas reserves are expected to feed the gas-starved country for almost a century. The firm will have to invest more than Rs 7,000 crore (Rs 70 billion) in extracting gas from the Krishna-Godavari basin.

 

Reliance is understood to already have received enquiries from several international oil majors for a partnership but is, however, planning to go it alone.

 

An industry source said: "If Reliance's projections come true, it will change the entire energy supply chain of the country. This will further mean that projects to import liquefied natural gas in the country will be hit."

 

Such a scenario puts a question mark on the slew of LNG terminals planned in India . Although most are on the drawing board, several global firms, including Shell, British Gas, and the local Petronet LNG, have bought land and carried out detailed feasibility studies to import LNG.

 

Reliance is delineating the gas reservoir, has drilled almost three wells, and needs 122 clearances at various levels of the government.

 

Though Reliance has a 10-year plan for the gas reservoir, the entire execution and commercial production is being chalked out in such a manner that it can commence production in two and a half years.

 

Reliance is the first private Indian company to have struck gas in a deep water

exploratory block in the country. It drilled a record 6,000 feet below the sea floor in the Krishna-Godavari basin.

 

http://www.dghindia.org/pdf/09-10.pdf

Out of the total sedimentary area of 3.14 million sq. kms in our country, an area of 2.2 million sq.kms has already been licensed. This leaves us with an area of 0.94 million sq.kms that is open for offer. Further, out of the total prognosticated

resources of 205 billion barrels of oil and oil equivalent of gas, only 68 billion

barrels have been established as in-place reserves. There is, thus, a vast potential of 137 billion barrels yet to be discovered oil present in the sedimentary area of the country. It is my firm belief that this can be found by accelerating the pace of exploration in the country and by offering new acreages expeditiously.