RIL looks to rationalise shale gas investment

 RIL Chairman Mukesh Ambani has said that the company is looking at rationalising its investments in shale gas portfolios.

“Reliance’s US Shale Gas ventures have faced challenging times due to prices at their lowest in a decade. Reliance and its partners continue to improve efficiencies and we will continue to look at rationalising these portfolio investments,” Ambani said.

Ambani also hoped that the domestic exploration and production business will become viable in the coming years. “RIL and BP have recently approved an investment plan to monetise over three trillion cubic feet of gas from new fields in KG-D6 block.

First gas from these fields is expected in mid-2020,” Ambani said, adding that the company is looking forward to making their domestic E&P business economically viable in the coming years.