India discovers $50 billion gas reserves
Posted: 04 July 2005
India has announced the discovery of a natural gas field in the basin of the Krishna and Godavari rivers in the southern state of Andhra Pr adesh, with reserves valued at US $50 billion, making it the country’s biggest natural gas field.
The gas reserve will yield 20 trillion cubic feet of gas, said Chief Minister Narendra Modi, the top elected leader in western Gujarat state.
A consortium led by state-run Gujarat State Petroleum Corp. Ltd. made the discovery, he said. The company has a 80 per cent stake in the consortium, while Canada 's Geoglobal Resources Inc. and India 's Jubilant Enpro each own 10 per cent, a Gujarat government statement said. Geoglobal is based in Calgary .
The consortium began drilling operations last year, and commercial production is expected to begin by 2007.
Posted by Editor Pipeline Magazine
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