Reliance Industries has received green nod for drilling 8 additional exploratory wells to ascertain the reservoir capacity and commercial viability of hydrocarbons off the coast of Tamil Nadu at a project cost of Rs 800 crore.
The company has been awarded exploratory rights for hydrocarbons prospecting in the offshore block DY-III-D5 under the New Exploration Licensing Policy-III. RIL has already been given the environment clearance to drill 11 exploratory wells in this block. As on date, Reliance Industries Ltd has drilled nine wells and discovered hydrocarbons in three wells. Since seismic data and the drilling campaign shows presence of hydrocarbons in the block, RIL is planning to carry out 8 additional exploratory well drilling to establish the reservoir capacity. The clearance to the Rs 800 crore project has been given subject to certain conditions, the official added.