Reliance's 4Q FY15 Oil, Gas Revenue Declines 10.2% to $402.8M
Reliance also reported that subsequent to mobilization of rig in last quarter, the Panna Mukta joint venture (JV) has commenced workover activities and completed 5 workovers during the quarter. At the Mukta “B” Development, topside and jacket has been installed, while installation of other facilities are in advance stage of completion and drilling of 6 wells are scheduled during monsoon 2015.
On the Tapti Field Abandonment project, the Tapti JV has achieved resolution with the Indian government that the partners will continue to be responsible for abandonment obligation of Tapti B facilities and state-owned Oil and Natural Gas Corp. Ltd. (ONGC) will take over Tapti Part A facilities in accordance with Tapti Production Sharing Contract.
As for CB-10 Block, Reliance and its partners are currently in the process of preparing a development plan to submit to the Indian government by mid FY 2015-16.
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