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GPL confident of converting minor port into deep water one
Hoping to bag environmental clearance by this month end, Gopalpur Ports Ltd (GPL) is confident of converting the minor port in south Orissa into an all weather deep water one within 24 months, two years ahead of the stipulated timeframe.

FIIs expect a strong pullback
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.

News of the day

Indian set ablaze in Melbourne...
In yet another attack on an Indian in Australia, a 29-year-old man was set on fire by a group of four assailants here, drawing strong condemnation from a student body which called such assaults unacceptable and asked authorities not to “dodge” the issue.
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RIL discovers third gas reserves in KG basin

Reliance Industries (RIL), the country’s largest private sector company, has announced its third successive gas discovery in the exploration block KG-DWN-2003/1 (KG-V-D3), of NELP-V. The deepwater block KG-DWN-2003/1 is located in the Krishna basin, about 45 kilometers off the coast in the Bay of Bengal. The block covers an area of 3288 square kilometres. RIL holds a 90 per cent participating interest (PI) and Hardy Exploration and Production India Inc holds the rest. - RIL not cooperating in mill takeover, says Bihar minister - Tatas to promote IT SEZ in Chennai - Govt asks GAIL to assure gas supply to power projs - Advance tax kitty rises 20% during Apr-Dec - "Reliance not cooperating in mill takeover" - Big gap in demand-supply of skilled manpower: HR experts The well KGV-D3-R1, the third in this block was drilled at a water depth of 1982 m and to a total measured depth of 4113 m. The objective was to explore the Miocene deep water lobe and onlapping wedges play fairway. Three reservoir zones were encountered at Miocene Level having gross thickness of 4, 23 and 16 metres. The potential of these were evaluated through a wire-line based technology called Reservoir Characterization Imager (RCI). The discovery namely “Dhirubhai - 44” has been notified to the government of India and the Directorate General of Hydrocarbons. The potential commerciality of the discovery is being ascertained through more data gathering and analysis. The discovery supplements RIL’s understanding, of the petroleum systems within the block. 3D seismic has been acquired over the entire block area. Besides the above discoveries, several prospects have been mapped at different stratigraphic levels to fulfill the balance minimum work commitment of three wells. RIL is likely to drill three additional exploration wells on the block before the end of 2010. In August 2005, Reliance and HEPI were awarded D3 block under NELP-V. Reliance is the operator of the block. Exploration drilling commenced on this block in 2008.


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