MUMBAI, May 8 (Reuters) - Indian energy conglomerate
Reliance Industries has cut estimates for proven gas
reserves in its Indian blocks by 6.7 percent to 3.67 trillion
cubic feet, it said in its annual report.
Reliance's growth outlook has been marred by falling gas
output from its huge gas fields, with production less than half
of what was originally estimated.
On Tuesday, India's oil minister said gas output at
Reliance's D6 block, off India's east coast, is projected to
decline to 20 million standard cubic metres a day (mscmd) in
2014/15 from an estimated 28 mscmd in this fiscal year.
Earlier this year, Canadian oil and gas producer Niko
Resources Ltd, which owns a 10 percent stake in the D6
block, said it expects lower natural gas reserves at the block
and the area's geological model may need to be revised.