It is said that Reliance will revive the gas project by 2017. This is said by some sources who are aware of the revival plan of Indian gas project. Now, the company is preparing to start the work which was delayed for seven years. Here are further details about this project.
Reliance Will Revive the Gas Project by 2017:
From the recent sources, it is said that the company will start their pending work in almost four oil and gas blocks in the offshore. These four oil and gas offshore blocks includes the country’s massive natural gas findings. This project strives for the development and expansion activities in the country. These activities were delayed for seven years. The reason behind this delay is several disputes between the company and the government of India.
Many meetings were held between Reliance representatives and the Indian government in order to resolve this issue. The company discussed many projects as a result of which this issue is now resolved. It is said that now these projects are approved and the company will start these projects. These projects will be started by the end of 2017. On the other hand, the company didn’t disclose the projects. It is said that the information is still not public. It will be kept private until the projects are started properly.
Reliance is working with in partnership on these projects. The other partners are BP PLC as well as Niko Resources Ltd. These are partners for the KG – D6 block. These two partners of reliance didn’t comment on these projects. Reliance will revive the gas project by 2017.
According to the BP’s representative they are trying to bring progress. They are doing it by the cooperation of their partners. They are working in the field of operations, technology as well as many other under water technologies. These will help in the development and exploration fields.
The company will finalize the budget and working plan on these projects by the end of this year. Reliance is going very good. In addition to that the company rose to 3 %. This 3 % is the most in almost three months. Now it is on 974. 70 rupees. This is according to the close of Mumbai.
Conclusion:
Reliance will revive the gas project by 2017. The sources said that the company has resolved almost all issues with the government. Now, the company will restart its pending projects by the end of year 2017. It is extremely beneficial. This is because for the reason that it will bring many advancements and development in the country. It will bring many under water progress.
