Sunday, July 1, 2007

ONGC, Gujarat State Slash `Speculative' Estimates of India Gas Discoveries

(Bloomberg) -- Oil & Natural Gas Corp. and Gujarat
State Petroleum Corp. reduced the estimates of natural gas
discoveries offshore India after the government challenged what
it called ``speculative forecasts.''

Oil & Natural Gas, India's largest explorer, cut its
projection of the Krishna Godavari basin find to 2 trillion cubic
feet from the 21 trillion disclosed in December, said V.K. Sibal,
director general of hydrocarbons, the regulator. Gujarat State's
gas field was lowered to 1.38 trillion from 20 trillion.


Read more at Bloomberg Energy News

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