GREY:NKRSF - Post by User
Comment by
HumbleTheTraderon Jun 28, 2016 6:49pm
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Post# 25006543
RE:6:15pm
RE:6:15pmIn March 2016, the Government of India approved a proposal to grant marketing freedom to producers including pricing freedom for the gas to be produced from discoveries in high pressure-high temperature, deepwater and ultra-deepwater areas in India. The new natural gas pricing guidelines apply to future discoveries as well as existing discoveries which had yet to commence commercial production as of January 1, 2016 (such as existing undeveloped discoveries in the D6 Block in India). The contractor group of the D6 Block is taking the necessary steps towards development of the R-Cluster, Satellites and MJ discoveries in the D6 Block and the Company's oil and gas reserves as at March 31, 2016, as evaluated by an independent reserves evaluator, reflect significant undeveloped proved and probable reserves for these fields.