Reliance Industries Ltd (RIL) has submitted the field development plan to the government of India in the past week.
The development plan comprises the scheduled tasks to be undertaken on firm's one of the prominent blocks, NEC-25 block in the Bengal basin offshore north-eastern India.
One of the many firms with stable and huge working interest in the feild, Niko Resources Ltd., Calgary recently stated in the media that it has now involved an independent reservoir engineering firm, which is working on a reserves and economic evaluation for Niko's interest in the block.
Niko has a 10 per cent working interest in the 3.6 million acre block. Latter quite upbeat about working on the field soon expressed that it expects to book reserves for the NEC-25 block and other planned development projects in its portfolio, effective March 31, 2013.
Moreover, the company said that its strategies will also be firmly supported by the clarified future gas price listings for the block and submission of the field development plan by RIL.
An industry data shows that Reliance Industries operates NEC-25 with a 60 per cent working interest, and a unit of BP PLC has 30 per cent.