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