(a) the names of the companies which have been awarded contracts for development of the Krishna Godavari (KG) D6 basin;
(b) whether the Government proposes to carry out a performance audit prior to allowing any future capital investment in the said block;
(c) if so, the details thereof and the reaction of the companies thereto; and
(d) the action taken/being taken by the Government in this regard?
MINISTER OF PETROLEUM & NATURAL GAS (Dr. M. VEERAPPA MOILY)
(a) to (d): A statement is laid on the Table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (d) OF LOK SABHA STARRED QUESTION NO. 313 TO BE ANSWERED ON 14TH
DECEMBER, 2012 REGARDING FRESH INsVESTMENT IN KG D6 BASIN ASKED BY SHRI NAMA NAGESWARA RAO AND SHRI M.B. RAJESH, MPs
(a): Under the first bidding round of New Exploration Licensing Policy (NELP), the deepwater exploration block KG-DWN-98
/3 (KG-D6) in Krishna Godavari basin in East Coast was awarded to M/s Reliance Industries Ltd (RIL) as Operator with 90% Participating Interest (P.I) along with M/s NIKO Resources Ltd. as Consortium Partner with 10% P.I through International Competitive Bidding process. Subsequently, in August, 2011, Government had granted consent for the assignment of 30% P.I by RIL to BP Exploration (Alpha) Limited (BPEAL) in this block. The present status of Consortium in KG-D6 block is as under:
- RIL ( 60% P.I ) and Operator
- BPEAL ( 30% P.I)
- NIKO Resources (10% P. I)