Reliance Industries Ltd., operator of the NEC-25 block in the Bengal basin offshore northeastern India, submitted the field development plan last week to the government of India.
Niko Resources Ltd., Calgary, which has a 10% working interest in the 3.6 million acre block, said an independent reservoir engineering firm is working on a reserves and economic evaluation for Niko’s interest in the block.
With field development plans submitted and increased clarity on future gas prices for the developments, Niko said it expects to book reserves for the NEC-25 block and other planned development projects in its portfolio, effective March 31, 2013.
Reliance Industries operates NEC-25 with a 60% working interest, and a unit of BP PLC has 30%. When developed, the block is expected to produce gas from a deltaic channel complex.