BP reliance to revive investments in India

Published Jun 18, 2017


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.


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