Oil & Natural Gas Corporation and
Gujarat State Petroleum Corporation have revised their gas estimates of gas
reserves in their blocks off the country's east coast by nearly three times.
The Director general of Hydrocarbons (DGH)
has already approved reserves of around 2 tcf in ONGC's first discovery in a
ultra deepwater well in the basin. ONGC's gas reserves in the KG basin is 6.37
tcf, which includes smaller discoveries made in the basin. GSPC's reserves in
its Deendayal block in the basin is 5.6 tcf, higher than the 1.6 tcf that the
DGH has already approved.
The revised reserves of the two
companies taken together is around 14 tcf, larger than REliance Industries'
reserve of 11.3 tcf in the D6 block in the KG basin.