Nov 12, 2002
GSPC may exceed Reliance in gas finds
Just when we are recovering from the staggering news of Reliance’s major gas strike in the Krishna-Godavari [KG] basin, along comes a report in BusinessLine by Vinod Mathew which suggests that we be prepared for even better news.
Gujarat State Petroleum Corporation [GSPC] is about to be awarded exploration fields adjacent to Reliance’s. GSPC is currently running a field at Hazira, western India where it produces Rs.2 crore worth of gas every day. At KG it will partner Canada’s GeoGlobal and the Bhartia group. The excitement is due to the fact that almost every strike at KG has been successful so far. Also GSPC’s designated field of 1850 sq.km needs shallower drilling and therefore cost of bringing the gas would be lower than Reliance’s.
No one is talking officially. That’s a refreshing change from India’s inclination to hyperbole. But do remember all the names strewn above. They may be popping up in the news soon.