SO after lot of surfing it come to me as :-
- Reliance India (@ Dhiru bhai`s time) took part in Indian government program of "National Exploration Licence Policy - III "(NELP-III). Where he signed for search of blocks on lottery basis. He was allotted with basins belonging to Cauvery River and near by.
- Dhiru bhai being busy with communication and other things kept the license as future thing.Other companies and government of India kept poking them for following NELP-III norms.
- After his death and property distribution. No one divided the license, also both of them counted it as "useless" and never asked for it.
- Sudden fire in the oil price in market when crude hit 50$/barrel for first time, both bros started looking for options to get the drilling started in oil areas.
- They both saw the license at their dead-man`s table. Instead of fighting with each other, they started "exploring oil " both claiming single license as their own property.
- By the time Reliance could get any thing Cairn India had started its wells producing more then 2.2 million barrels of oil per day, also they were following norms so they were allowed to sit in NELP -VII phase where as Reliance was allowed to attend but not to bid as they were black listed at that time.( We all can imagine how reliance managed to attend the NELP-VII)
- Both brothers were drilling but getting nothing. At the same time, some how, they launched IPO of their own company RPL and RNRL separately.
- Before launching they decided to buy Oil wells outside India under UN norms so that they can show in India that their company is in profit and IPO is not a big issue.In this both brothers agreed that they will not buy any well on individual cost but will buy through RIL which was their dad`s company. So they both agreed and in this game also they lost two things.
a) UN-"food for oil" scam involved RIL.
b) High cost poor oil quality oil wells.
- Although crude price in world helped them alot at that instance.
- After UN food scam and Indian government ban on NELP VII. Kokilaben must have stopped both of them from this hapth-hazard caused to her husband`s company RIL. Due to which RIL, RNRL and RPL went to silent stand-by.
- On January 2007 ONGC found oil near Cauvery Basin in patches which was not worthy. Reliance brother`s fresh wound was again pinched by this. They instead of fighting, jointly agreed to drill it with name of RIL, just to prove it to maa(kokilaben).
- Dhiru Bhai did it again with RIL and Block number "Dhiru bhai 32 " gave a clear signal of presence of oil on July 2007.
- After math showed that there is oil of around 12 million barrels per day for 15 years approx.
- Reliance purchased 15 various sectors from ONGC and later on in all of them Oil was found. This oil was not present till they were owned by ONGC.
After this successful exploration reliance become largest oil exploration company !!!!!!!!
Ex-Reliance Mechanical Engineer