Reliance develops huge gas reserves in MP

Reliance Industries has established over 100 billion cubic meters of gas reserves in a coal block in Madhya Pradesh, Petroleum Minister Murli Deora said on Tuesday. Reliance has established 47.32 bcm of coal bed methane (CBM) reserves in its Sohagpur East block and another 54.88 bcm reserves in Sohagpur West block. For both the blocks, Reliance is making development plan, he said in a written reply to a question in the Rajya Sahba here. Reliance to partially shut plant for maintenance SP(E)-CBM-2001/1 and SP(W)-CBM-2001/1 blocks were awarded to Reliance in the first round of auction for CBM blocks. Deora, however, did not say when Reliance was expected to start production from the two areas. Reliance will import 25% less crude from Iran Great Eastern Energy Corp has established 38.78 bcm of reserves in its Raniganj South CBM block and is currently producing gas at the rate of 68,000 cubic meters per day. Reliance to acquire oil storages in US Besides, Oil and Natural Gas Corp (ONGC) and its partner Indian Oil Corp (IOC) have established 33.60 bcm of CBM reserves in Bokaro block and are in the process of preparing development plan, he said.