Mumbai - BP and Reliance Industries will invest
as much as $6 billion to restart work in Indian oil and gas blocks after eight
years, in an area off the South Asian country’s east coast where both companies
have faced trouble boosting production.
The companies aim to develop about 3 trillion cubic feet of
resources that will result in production of an additional 30 million to 35
million metric standard cubic meters a day of gas from the D6 block in the
Krishna Godavari basin between 2020 and 2022, Bob Dudley, chief executive
officer of BP said in New Delhi.
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The companies will first award contracts for work in the
R-series ultra-deep water gas fields in the block, lying 70 kilometers
offshore, Dudley said. Plans for development
of the satellite and D-55 fields in the block will be submitted to the
government before the end of 2017, he said.