The company has sold oil to Hindustan Petroleum Corporation and may sell oil to Chennai Petroleum, Prasad said. Reliance plans to look for more spot contracts for oil.
The KG-D6 block in the KG basin, located in the east of Andhra Pradesh coast, was awarded to RIL under the first round of new exploration and licensing policy. RIL holds 90 per cent in the block and Canadian company Niko Resources holds the remaining 10 per cent.
Image: Mukesh Ambani delivering the 6th Darbabri Seth Memorial Lecture in New Delhi. | Photograph: Manan Vatsyayana/AFP/Getty Images
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