Reliance Industries (RIL) share price rose in early trade on April 26 after the corporate and BP announced the commencement of production from the Satellite Cluster gas field in block KG D6, situated off India’s eastern coast.
RIL and BP are developing three deep-water gas developments in block KG D6 – R Cluster, Satellite Cluster and MJ – which together are expected to supply around 30 mmscmd (1 billion cubic feet a day) of gas by 2023, meeting up to fifteen of India’s gas demand, the corporate said.
The developments will each utilize the prevailing hub infrastructure within the KG D6 block.
RIL is that the operator of the KG D6, block with a 66.67 percent participating interest, and BP holds a 33.33 percent participating interest.
The Satellite Cluster is that the second of the three developments to return onstream, following the start-up of R Cluster in December 2020.
It had originally been scheduled to start out production in mid-2021.
The field is found about 60 km from the prevailing onshore terminal at Kakinada on the East Coast of India in water depths of up to 1850 meters.
The field will produce gas from four reservoirs, and is predicted to succeed in gas production of up to six mmscmd, RIL said.