Reliance Industries Ltd., Mumbai, said it expects to sign a production-sharing contract (PSC) this quarter with Myanma Oil & Gas Enterprise (MOGE) for shallow-water Blocks M17 and M18 offshore Myanmar.
Reliance was awarded two of the Myanmar offshore blocks that were auctioned in 2013 (OGJ Online, Mar. 26, 2014).
In its earnings statement for the quarter through Dec. 31, Reliance also said it has three international blocks in its portfolio: two in Yemen and one in Peru.
In India, Reliance said deepwater KG-D6 field off the east coast produced 500,000 bbl of crude, 100,000 bbl of condensate, and 38.5 bcf of gas during the quarter. In a third appraisal of the D55 discovery, the MJ-A3 encountered a hydrocarbon zone “thinner than expected” (OGJ Online, July 30, 2013).
Panna-Mukta fields off the west coast produced 1.8 million bbl of crude and 18.5 bcf of gas during the quarter.
Production from the Tapti fields declined significantly, and the company said “cessation of production” is likely to occur in 2015.
Development continues in two coalbed methane blocks in east-central India, Sohagpur East and Sohagpur West. Phase I is expected to have more than 200 wells. Four rigs are operating.
Reliance said India’s new policy for natural gas has a price of $5.05/MMbtu on a gross calorific value basis through Mar. 31. The price will be revised every 6 months, it said.