Reliance Industries Ltd said on Tuesday it had discovered more gas in an exploration block off the country's east coast.
The company, which holds 90 percent stake in NEC-25 block in the Mahanadi basin, did not give details such as the flow rate of the gas find.
Last month, Reliance said it would invest $1.14 billion to produce 35-40 million cubic metres of gas per day from earlier discoveries in the same block.
Reliance, which has made many gas discoveries off the east coast, is separately investing $8.7 billion in its deep-sea fields in the Krishna Godavari basin, south of the NEC-25 block, and aims to produce up to 80 million cubic metres of gas per day in the second half of 2008/09.
Ahead of the announcement shares in Reliance, India's largest listed firm with a market value of $97 billion, ended nearly 1 percent up at 2,575.75 rupees in line with the Mumbai market .
(Reporting by Hiral Vora; Editing by Ranjit Gangadharan)
http://www.reuters.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment