India’s Reliance Industries will invest in shale gas

Reliance Industries logo

Reliance Industries Limited – part of the Reliance Group, India’s largest private sector enterprise – will invest up to USD 700 million in its shale gas venture in the current fiscal.

Mr Alok Agarwal, CFO of RIL, said to reporters in Mumbai that “We will invest USD 600 million to USD 700 million in the shale gas venture. This figure has almost become into a yearly run rate now, we hope to open around 125 to 175 new wells during the year.”

On KG-D6 the company will concentrate on improving gas production in this fiscal year. Shale gas also continued high growth with production increasing 2.8% sequentially to 13.6 mmscmd.

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