Reliance shuts offshore oil-producing field in Krishna-Godavari basin
Updated : September 21, 2018 02:42 PM IST
The closure marks the beginning of the end of the company's first foray into oil and gas exploration and production that started in September 2008 when the field produced first oil.
The MA field, which was primarily an oil-producing field, is among the three oil and gas fields that the company has in the Bay of Bengal's Krishna-Godavari (KG) basin.
The output from the fields started declining rapidly after reaching a peak of 30,000 barrels per day (bpd) of crude oil and 60 million cubic metres per day of gas as the company failed to manage the geological complexities of deep water production.