“The operator (RIL) has now got an experienced partner (BP). They are doing studies in tandem. By the end of the year, the will come up with solutions to arrest the fall in production,” DGH director general SK Srivastava said
New Delhi: Reliance Industries (RIL) may see natural gas output from its eastern offshore KG-D6 field drop further this fiscal as all oil and gas fields see natural decline, reports PTI quoting oil regulator Directorate General of Hydrocarbons (DGH).
“They (RIL) are currently producing between 38 and 39 million metric standard cubic meters per day... this may drop further this year as all the oil and gas fields witness natural decline,” DGH director general SK Srivastava told reporters here.
RIL has seen KG-D6 output fall from 61.5 mmscmd achieved in March 2010 to less than 39 mmscmd, instead of raising it to about 70 mmscmd target for this fiscal and 80 mmscmd by April.
“The operator (RIL) has now got an experienced partner (BP). They are doing studies in tandem. By the end of the year, the will come up with solutions to arrest the fall in production,” Mr Srivastava said.
RIL, which has so far drilled and completed only 18 out of the 22 planned wells by April 2011 and 31 by April 2012, blames the fall in output to reservoir not behaving in the previously predicted fashion, fall in pressure in wells and water and sand ingress. It wants to do more studies before drilling more wells.
Five of the 18 wells on Dhirubhai-1 and 3 gas fields in KG-DWN-98/3 or KG-D6 block have ceased due to high water and sand ingress. Besides, one out of the six wells on the MA oil field in the same block has also closed due to the same issues.
Mr Srivastava said RIL is to submit workover for reviving the six sick wells.
BP Plc had in February last year announced buying 30% stake in RIL’s 23 blocks including KG-D6. The Production Sharing Contract (PSC) for KG-D6 and some other blocks has been amended to include the Europe’s second largest energy firm, he said, adding that the PSC for other would be signed shortly.
According to the UIDAI study, it has been affirmed that the authority’s biometric enrolment system is ready to handle high throughput of up to 10 lakh registrations per day and has 99.965% accuracy in terms of duplication detection
New Delhi: Dispelling fears that the biometric technology being employed for the Aadhaar project is flawed, the Unique Identification Authority of India (UIDAI) on Monday asserted that its system is reliable and can achieve the task of providing unique ID cards to the entire population of the country, reports PTI.
“Based on the analysis, the UIDAI confirms that the enrolment system has proven to be reliable, accurate and scalable to meet the nation’s need of providing unique Aadhaar numbers to the entire population,” the UIDAI said.
Amid concerns raised by the home ministry about the quality of data collected by the UIDAI, which could be a security threat, the body today released a report titled, ‘The Role of Biometric technology in Aadhaar Enrolment’, which confirms the high degree of accuracy of biometrics used in the UID project in the context of the large-scale enrolment across India.
The Planning Commission and the home ministry are at loggerheads over the need for the UID project, with both putting forward their respective points of view to prime minister Manmohan Singh.
The controversy is centred on the collection of biometric data of all residents. While the home ministry has maintained that data collected by the Registrar General of India for the National Population Register should form the basis for issuance of unique ID cards, the Planning Commission has reposed faith in the data collected by the Nandan Nilekani-led UIDAI.
The Union Cabinet is likely to discuss the proposal for allowing the UIDAI to continue its work beyond the mandated 200 million enrolments on Tuesday.
According to the UIDAI study, it has been affirmed that the authority's biometric enrolment system is ready to handle high throughput of up to 10 lakh registrations per day and has 99.965% accuracy in terms of duplication detection.
The system meets the country’s requirements in terms of scale as well, with the database capable of accommodating 1.2 billion people.
“The UIDAI biometric system is processing over 100 trillion biometric person matches with a high degree of accuracy each day, capable of issuing 10 lakh Aadhaars daily.
This makes it not only one of the most accurate, but soon to be the largest biometric system in the world,” UIDAI chairman Nandan Nilekani said in a statement here.
“This certainly gives us a high degree of confidence in executing this project of national importance with scale and accuracy,” UIDAI director general RS Sharma said.
The Centre has twice revised its borrowings target in the H2 of FY11-12, leading to over Rs92,000 crore of excess borrowings over and above the budgeted Rs4.2 lakh crore, which has put a severe strain on the budgeted fiscal deficit estimate of 4.6%
Mumbai: Flagging the issue of growing fiscal deficit, the Reserve Bank of India (RBI) on Monday termed as ‘worrisome’ higher dependence on market borrowings by the government and called for fiscal prudence, reports PTI.
“Tighter adherence to fiscal rules (is) necessary as increasing dependence on market borrowings is worrisome,” the RBI said in its macro-economic and monetary developments review released on the eve of monetary policy announcement.
The Centre has twice revised its borrowings target in the H2 of FY11-12, leading to over Rs92,000 crore of excess borrowings over and above the budgeted Rs4.2 lakh crore.
This has put a severe strain on the budgeted fiscal deficit estimate of 4.6% with even the finance minister admitting that meeting the target will be difficult.
The RBI said the government has been borrowing from the open market through Ways and Means Advances due to lesser accumulation in the National Small Savings Fund.
The increased government borrowing, along with rate hikes, has had an impact on liquidity conditions and the apex bank said it had to resort to buy back of Rs61,400 crore of government securities in what it terms as open market operations (OMO) to inject liquidity in the system.
The RBI also made it clear that though the OMO is the instrument of choice, it can resort to adopting other measures to infuse liquidity “as and when required”.