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RIL-BP's KG Basin gamble-I: Output will continue to decline till 2020
Jun 19: Gas production from the RIL-BP's D-6 block continues to slow down.
8In 2016-17, the average production was just 8.4 mmscmd, down from 11.61 mmscmd in 2015-16
8Efforts to keep production up by sidetracking activities is showing minimal results so far.
8Two sidetrack wells in the MA field brought on-stream in October 2016 and January 2017, respectively, contributed only marginally to production, with the decline in production continuing.
Average output in the fourth quarter was 8.2 mmscmd
8Since fresh gas from the recently announced new investments are likely in 2020, the decline in output from the RIL-BP combine's block is likely to continue till then.
8Meanwhile the duo has been burning cash on development drilling for sometime now, albeit quietly.
8Of the total capex of $ 119 million in 2016-17, bulk of it is elated to the development drilling programme in the D-6 block.
8Expect a sharp spike in capex from now on, as the $ 6 billion investment plan in the R-series gas fields beings to roll off the ground.
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