Reliance in Talks to Sell Gas Block

India's largest listed energy company Reliance Industries is believed to be in talks with several oil majors to sell up to ten percent of a deep-water gas block off India's east coast.

Shell, ExxonMobil, Chevron and BP are some of the companies which are rumoured to have shown interest in the D6 block in the Krishna Godavari basin, unnamed company sources told Reuters.

Reliance Industries owns 90 percent in the block with partner Canadian oil company Niko Resources holding the remaining ten percent.

Last week, Reliance announced a second gas discovery, KG-DWN-2003/1, in the Krishna Basin with "excellent qualities of reservoirs" and gross hydrocarbon columns of around 11m.

The deepwater exploratory block KG-DWN-2003/1 is located 45km off the coast, and was drilled to a total depth of 2,730m.

By staff writer