Reliance Industries to Start East Coast Oil Production in 2008

NEW DELHI Jun 12, 2007 (Dow Jones Newswires)

India’s Reliance Industries Ltd. (500325.BY) is on track to start gas production from the country’s eastern coast in July 2008, a senior company executive said Tuesday.

Initially, Reliance will start production with 30 to 40 million standard cubic meters per day, P.M.S. Prasad, head of the company’s exploration and production business, told reporters.

Gas production from the Krishna-Godavari oil and gas block is expected to peak at 80 million cubic meters a day by 2009, he said.

Reliance will also produce crude oil from the block in 2008. Production will initially start at 30,000 to 40,000 barrels a day and peak at about 50,000 barrels, Prasad said.

“At the moment, our focus is on gas (production),” Prasad said. Copyright (c) 2007 Dow Jones & Company, Inc.