RIL to drill more wells despite failure in KG-D9

Reliance Industries today said it will drill three more wells in the Krishna Godavari basin bloack where the first exploratory well was abandoned owing to poor gas find.

“RIL remains committed to pursuing exploration campaign in (KG-D9 block),” the company said in a statement, after its stock took a hammering on news of exploratory failure.

The company denied rumours that it was quitting the KG- DWN-2001/1 (KG-D9), in the vicinity of its prolific KG-D6 gas field, saying it will incorporate data and information from the first unsuccessful well in future drilling.

RIL holds 90 per cent stake in the block and UK’s Hardy Oil has the remaining 10 per cent.

Earlier in the day, the British company said the well ‘KGD-A1′ drilled for exploration purpose would be “plugged and abandoned”.