Reliance Industries Ltd (RIL) has chalked out a business plan for developing a new breed of business, piloting alternative energy projects.

RIL has lined up plans for oil and gas exploration work over the next three years. The company is working on developing nine gas fields around the Dhirubhai-1 and -3 gas discoveries, currently producing around 45 million standard cubic meters per day (mmscmd).

The company is to set up a new petrochemical complex at Jamnagar in Gujarat, with an annual capacity of two million tonne of olefins. RIL's oil and gas and the petroleum refining projects are commissioned. With this addition, RIL will have close to 4 million tonne of olefins and downstream capacities.

Meanwhile, the Krishna-Godavari basin's D6 block began oil production in September 2008 and is currently producing between 10,500 and 11,000 bpd of oil from three wells. The company is likely to add three wells to more than double the output.

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RIL discovers oil in Cambay Basin (10-Nov-09)