Ambani is investing $5.2 billion to develop the KG basin. This oil production, Ambani said, will not only benefit customers but also reduce subsidies and thus release huge financial resources that the government can spend on development.
The company will start pumping natural gas from the KG basin in the January-March quarter, which is within the broad target of the company but later than the government's forecast that production would begin by November.
Image: Mukesh Ambani symbolically sounds the gong during a function at the Bombay Stock Exchange to launch the new listing of Reliance Petroleum, in Mumbai, on May 11, 2006. | Photograph: Indranil Mukherjee/AFP/Getty Images
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