This means, at an average gas price of $4.2/mBtu and exchange rate of Rs 60 against a dollar, RIL drilled gas costing Rs Rs 8000-9000 crore that belonged to ONGC, say two analysts.

Sources privy to the development told FE that the draft report has been submitted to regulator Directorate General of Hydrocarbons (DGH). The DGH would seek comments from both the explorers and a final report would be submitted. This may take few weeks more.

Responses to queries on D&M draft finding sent to RIL are awaited while writing this article. ONGC couldn’t be reached for immediate comments.

Last week, talking on the issue, petroleum minister Dharmendra Pradhan said in Pune, “law should take its own course.”

According to the findings of D&M, around 59.5 BCM of gas have been extracted by RIL from its block KG-DWN-98/3, commonly known as KG-D6. Of this, around 9 BCM flowed out from the adjacent block -KG-DWN-98/2, which belong to ONGC.

State-run ONGC moved Delhi High Court alleging theft of its gas by RIL by way of drilling wells close to its block. The KG-D6 block started producing hydrocarbon in 2009. ONGC has not produced oil or gas from its block.

On September 10, the Delhi High Court disposed of ONGC’s petition and directed government to take a decision within six months after it receives report from an independent panel.

The consultant D&M found that gas flowed out from few wells drilled by RIL including A5, A9 and B8, which were closer to ONGC block. In addition, gas reservoir from another area — G4, which belong to ONGC and adjacent to its block KG-DWN-98/2, is also connected to RIL’s KG-D6.

ONGC claim of gas theft was reiterated when it engaged Schlumberger to drill wells in the block early this year. The results showed that gas pressure in the newly drilled wells reduced by more than half compared to prior findings. It indicated that gas was drained out of the block.