Reliance Begins Major Exploration Program Offshore India

Reliance Industries will begin its ambitious three-year, $350 million offshore oil and gas exploration program in April of this year using Transocean Sedco Forex's drill ship, Discoverer 534. They will begin by drilling in one of the two deep water blocks off the east coast of India. The company has 25 onshore and offshore oil and gas blocks.

About 10-15 wells are planned to be drilled in 2002-03 mostly in the deep water blocks (two on east and three on west coast) and shallow water blocks (four on east coast and six on west coast).

The company has outlined a massive 31-well exploration program through 2004-05 in the 12 oil and gas blocks awarded under the first round of New Exploration Licensing Policy (NELP).

Four vessels have been deployed to conduct seismic surveys, two along the east cost and two along the west coast of India. 2D data for more than 10,000 line kms and 3D data for over 5,800 sq kms has already been acquired.