Reliance Industries has commenced production of hydrocarbons in its KG-D6 block of Krishna Godavari Basin in India with the production of crude oil.

According to the company, the field is initially producing about 5,000 barrels of crude per day and is expected to reach its peak hydrocarbon production of 550,000 barrels of oil equivalent per day over the next six to eight quarters.

Reliance KG-D6 will account for 40% of India’s current indigenous hydrocarbon production. It is estimated that the production from KG-D6 facility will save India an annual foreign exchange outflow of $20 billion, the company added.