The Government has communicated to Reliance Industries Ltd and its partners BP and Niko Resources that it is taking back almost 80 per cent of the 7,745-sq km Krishna Godavari Basin D6 block from them.
A senior company official said the communication was received on Wednesday.
This, however, does not come as a surprise to the companies as it is part of the exploration process, where after every phase 25 per cent of the area has to be surrendered.
This area, which also had five small discoveries, would have been surrendered earlier, but for the rig moratorium and the debate whether the entire block was to be treated as a discovered area.
Relax timelines
But, now with the timeline having expired, the Government has taken it back.
“It won’t be appropriate to relax the timelines. So, we have issued the order,” Petroleum Secretary Vivek Rae told media persons.
The explorers have made five hydrocarbon discoveries (D4, D7, D8, D16 and D23) in the 6198.88-sq-km that would have to be relinquished now.
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