New Delhi: The Government has approved Reliance Industries’ $5.2 billion plan to develop a deep-sea gas field.
"The development plan envisages commencement of delivery of first gas by second half of 2008/09," the company said in a statement.
Output from Reliance's field is expected to double natural gas output in India. This may affect plans to pipe gas from Iran, Myanmar and Turkmenistan.
The company had earlier planned to produce only 40 million cubic metres a day but in November it doubled the estimated output saying new discoveries and expectations of a surge in demand had encouraged it to revise its development plan.
Reliance is the operator of the KG-D6 block in the Bay of Bengal, where it discovered vast reserves of natural gas in 2002 along with its partner, Canada's Niko Resources, which holds 10 per cent in the project.
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