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Reliance strikes gas off Andhra coast

India's largest private oil firm, Reliance Industries Ltd, has discovered a large gas field in an offshore block in eastern India off the Andhra Pradesh coast, government officials said on Tuesday.

Officials said the company had struck gas in the D3 (KG-DWN-98/3) block in the Krishna-Godavari basin and preliminary estimates indicated reserves of five to six trillion cubic feet.

The company will comment on the discovery on Thursday.

"Information will be made available at the forthcoming annual general meeting of Reliance Industries Ltd, which is scheduled on October 31, 2002," a spokesman for the oil and petrochemicals giant told Reuters.

Reliance and Niko Resources of Canada were awarded the deep-water block in the first round of India's New Exploration Licensing Policy.

The block is located in the region where British exploration firm, Cairn Energy, has also found gas.

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