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.
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
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.
