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BW Businessworld

Moily Sees Gas Output Rising By 2016-17

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India's gas output is expected to rise to 175 mscmd (million standard cubic metres per day) in 2016-17, from 105 mscmd in the current financial year, Oil Minister Veerappa Moily told reporters on Friday (19 July).

In June, India took the unpopular step of approving a gas price rise for the first time in three years, a move which could inject much needed investment in local production.

India's gas output has been falling since April 2010 because of geological complexities at Reliance Industries-operated D6 block in the east coast, while state oil and gas producers are struggling to arrest decline in aged fields. Reliance's gas output from the KG D6 fields is expected to rise substantially from 2016-17, Moily added.