07 June 2012 10:49 [Source: ICIS news]
“The shale gas business will soon become a significant part of our E&P portfolio and is a major area of investments over the next three to five years,” Reliance chairman Mukesh Ambani said at the company’s annual shareholders’ meeting.
Ambani said that Reliance has so far shelled out more than $3.5bn (€2.8bn) in total investment in
The company currently has three shale gas joint ventures in the
“All our three joint ventures are now operational and we are selling into competitive markets of
“The net sales from these JVs are expected to increase ten-fold to nearly 300bcfe [billions of cubic feet equivalent] in the next five years,” the Reliance chairman added.
($1 = €0.80)
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