Reliance to fuel India's growth

On Sunday, Sep 21 Mukesh Ambani, the Reliance Industries(RIL) announced in Mumbai that the company has created history by flowing oil from the nation's first deep-sea oilfield. However the gas production from the eastern offshore Krishna Godavari basin will begin in January 2009, four months behind schedule.

"Reliance began oil production from its predominantly gas-rich D6 block on Sep 17, with initial oil flowing at the rate of 5,500 barrels per day," said Mukhesh Ambani. The crude oil production will reach 20,000 barrels per day in a month's time, and the peak output of 40,000 barrels of oil will be achieved in the first quarter of 2010
Reliance Industries is the largest exploration company in the private sector in India. Its exploration & production (E&P) assets consist of 54 blocks spanning eight nations. With 42 discoveries to date, Reliance has a success ratio of over 60 per cent.