CAG – Ambani Extracting Gas from ONGC and GujaratSPC Discoveries

CAG – Ambani Extracting Gas from ONGC and GujaratSPC Discoveries

October31, 2012

 

It is disappointing Arvind Kejriwal deliberately making weak allegations against Ambani and BJP. Arvind Kejriwal didn't demand Cancellation of 88 of 90 Exploration Licenses to RIL and GSPC. In fact GSPC of Narendra Modi was Completely Blacked Out Mysteriously that had failed to commercialize a single block since 1999 allocations of blocks.

 

It is also a mystery – BJP government allocated over 100 blocks but didn't award any'Common Gas & Oil Pipelines' – and eventually RIL was also allowed toMonopolize Gas Pipeline also – RIL gave the contract to a Chinese Company in 2007 – RIL didn't have skills to lay even pipeline.

 

Actually in aid of RIL – GSPC didn't commence 'Commercialization of Deen Dyal Discovery of 2005 until recently.' – Giving Mukesh Ambani Monopoly in Oil Exploration.

 

Firstly BJP allowed RIL then owning 12% equity to 54% and Indian Public was practically excluded from shareholding therefore 'GOI and Indian Public had no control over RIL Operations – virtually a private company.'

 

Corruption in Oil & Gas by RIL was 'Mother of All Frauds' – Coal, Iron Ore, Highways, Power Plants, BALCO, etc.

 

RIL owned 90% - Foreign Collaborator 10% No Indian Public Equity.

 

CAG – RIL Drilling in ONGC and GSPC Discoveries

 

CAG reports of March2012 'Clipping of 4 Pages' attached clearly states RIL is drilling in ONGC block directly and GSPC blocks indirectly has production platform in GSPC block that enables Deep Drilling to extract all the gas in Deen Dyal Block.

 

October31, 2002

'Reliance's gas reserves in its exploratory block KGDN-6, off Vishakapatnam, are to the tune of 40-50 million cubic metres per day and are expected to go up to 100 cubic metres of gas over a 10-year period.

Reliance's gas reserves are expected to feed the gas-starved country for almost a century. The firm will have to invest more than Rs 7,000 crore (Rs 70 billion) in extracting gas from the Krishna-Godavari basin. --- Though Reliance has a 10-year plan for the gas reservoir, the entire execution and

commercial production is being chalked out in such a manner that it can commence production in two and a half years.'

 

Ø      Cost Rs.7000 crores.

Ø      Gas to be produced in 30 months.

Ø      Gas Production to go up to 100 MSCM that is reduced to 20 MSCM.

Ø      Reserves was to last 100 years.

 

90 Blocks to RIL – When Didn't Deserve Even a 100 Sq.Mt Block Each.

 

RIL and GSPC were allowed 25 Blocks and 65 Blocks had no drilling rigs and had no expertise at all.

 

RIL changed three '10% Partners all Very Small Operators' in three years – 1999 – RIL partnered with NIKO, 2000 partnered with HEPI and 2001 withHARDY.

 

Ø      BP came only recently.

 

This in itself shows RIL partnered with small time drillers just to qualify for Acquiring 25 Oil & Gas blocks.

 

RIL reported discovery of Gas in KG Basin in 2001 end when Dhirubhai was alive and above Press Release was made after due 'Confirmation of Reserves By International Experts.'

 

RIL 30 Million Tone Refineries – Indian Selling RIL Products.

 

BJP made another starling 'Never In The World Before Favor' directed to 'Market RIL Refinery Products Through PSU Gas Stations we call petrol pump.'

 

Mukesh Ambani cheated Anil Ambani after the death of Dhirubhai Ambani.

 

All cash cows were Taken Over By Mukesh Ambani and Anil Ambani was left with Power and Telecom sector both 'Intensely Competitive.' RIL is consolation entered in to Contract with Anil Ambani to supply gas to 10,000MW power plant for about 20 years and with NTPC also both at $2.34 per mmbtu.

 

Instead of developing Gas Reserves – RIL preferred another Gas Refinery for Exports.

 

It was only in 2006 – five years after RIL concluded Highly Inflated Cost.

 

Petrobras of Brazil executed P-56 and P-52 blocks at under $1b with much larger, deeper, more wells and farther from shore blocks but RIL capitalized over $9b.

 

'The main construction contract for P-52 was signed in December 2003 The work commenced in May 2004, and the Platform hull arrived in Brazil in March 2006, to be integrated to the modules as of July 2006. The total construction period was 26 months.'

 

Petrobras $400m for 24 Rigs – RIL 2 Rigs for $400m

 

'The package deal included 5-year contracts and has a total of nearly US$ 2 billion. It is believed to be the largest deal of this kind for the offshore sector and it has certainly been financially beneficial for Brazil's national oil company. --- Of the 24 rigs secured by Petrobras, 17 are semis and 7 are drillships, with their'

 

When Petrobras hired 24 Rigs for $400m annually RIL hired two most powerful Rigs at $0.550m per day or $200m each.

 

'This was Grand Conspiracy – These to Rigs could reach 14 kilometers' required to extract Oil & Gas from ONGC and GSPC discoveries.

 

Estimated Oil Equivalent Production Loss of around 100 million tones at $100 per barrel is over $60b per year – Crude Oil require Refining and loss of volume – so the annual loss comes to around $100b that for 6 years for RIL 2006 and 4 years for GSPC is $500b to $700b Economic Loss to India.

 

Complaint is pending with CBI for 3 years. 

 

Ravinder Singh

Progressindia008@yahoo.com

October31, 2012