Revived KG-D6 gas from near zero to about 20 mmscmd in FY23: Ambani

• Well on our way to enhance KGD6 gas production to 30 mmscmd, said Ambani in his AGM speech.
• The company is pursuing further exploration efforts in KG-UDW1 & KG-UDW2 blocks.
• Jamnagar will be progressively operated as a ‘Chemicals and Materials Feedstock Production’ engine.
• RIL is scaling up chemical recycling technology to deliver application-specific green products.
  

Reliance Industries has been able to revive the gas production in KG-D6 block with its partner British major BP, the CMD of the company Mukesh Ambani said in his annual general meeting speech on Monday. The gas production was at near zero a few years back, and is now at around 20 million standard cubic meters per day (mmscmd) in FY23.

After the commissioning of R-Cluster and Satellite-Cluster projects in FY21 and FY22, it commissioned the deep-water project — the MJ Field, in KG-D6 Block, this year. The state-of-the-art floating production storage and offloading (FPSO) has a gas production capacity of 14 mmscmd.

“We are well on our way to enhance production to 30 mmscmd, which will be 30% of India’s gas production and 15% of its current gas demand,” Ambani said on Monday.

Ambani also said that they are pursuing further enhancement with its exploration efforts in KG-UDW1 and KG-UDW2 blocks in the Krishna-Godavari Basin. It aims to sustain gas production over the next 15-20 years.

In a year of global volatility, the company operated with the lowest level of feedstock inventory. This was done by fully utilising the flexibility and integration of assets, and added 13 new grades of crude oil and feedstocks.

“We ensured high availability of the gasification unit to minimise the purchase of high-cost LNG to lower our energy costs,” he added.

The circular O2C business

The company is on a journey to transition its oil to chemicals (O2C) business into a sustainable and green, circular and consumer integrated, chemicals and materials business. Its refinery at Jamnagar will be progressively operated as a ‘Chemicals and Materials Feedstock Production’ engine.

Reliance converted low-value refinery streams to recently launched highly specialised Halo-Butyl Rubber grades and a new Purified Isophthalic Acid plant, is under commissioning.

“We have also been working on scaling up our chemical recycling technology to deliver application-specific green products. This is helping us access high-value, high-potential customers in new value chains,” he added.

It is also executing India’s first carbon fibre facility in Hazira, Gujarat which will include carbon fibre and carbon fibre reinforced plastics.

Ambani also said that the company has become India’s largest bio energy producer using non-cattle feed biomass which causes air pollution via stubble burning. It has set up two demo plants to produce compressed biogas and its plant at Barabanki in UP is operating at a commercial scale.

Going ahead, the company intends to set-up 25 compressed biogas plants across India.