Bloomberg News

Niko Expects Reserves Drop for D1/D3 Fields Off Coast of India

March 15, 2012

Niko Resources Ltd. (NKO) said it anticipates a drop in reserves for its D1/D3 fields, part of the D6 oil and natural-gas block off the coast of India.

Production at the fields “indicates the need for a revision to the current geological model,” the company said in a statement today. Niko said additional reserves may come from the R complex and satellite fields in D6.

The company has a 10 percent working interest in the D6 block, which is 90 percent owned and operated by Reliance Industries Ltd. (RIL), according to Niko’s website.

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net


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