Proved plus probable reserves at the KG D6 block, as of March 31, have decreased to 193 bcfe, the company said.
Niko, which co-owns the KG D6 block in India with BP Plc and Reliance Industries Inc, has been grappling with lower natural gas reserves at the block.
Niko has a 10 per cent stake in the D6 block, which is estimated to hold more than 9 trillion cubic feet (tcf) of gas.
Shares in RIL traded 1.9 per cent lower at Rs 723.50 on the NSE.
Reliance last month cut its India gas reserves by 7 per cent and the Indian government rejected its plan to recover $1.2 billion in costs at the gas field.
Niko Resources shares fell 48 Canadian cents, or 2 per cent, to C$21.53 on the Toronto Stock Exchange on Wednesday. They are worth about a third of what they were a year ago.
Copyright Thomson Reuters 2012