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Reliance Industries and BP to progress and expand partnership

Capital Market 

To develop 'R-Series' deepwater gas field in as first of three projects

Industries and BP have agreed to deepen and expand their partnership to work jointly across a wider range of areas throughout India's energy sector.

Both companies announced that they will award contracts to progress development of the 'R-Series' deep water gas fields in Block KGD6 off the east coast of The project is expected to produce up to 12 million cubic meters of gas a day, coming on stream in 2020.

This is the firs of the three planned projects in Block KGD6 that are expected to be developed in an integrated mannar, producing from about 3 trillon cubic feet of discovered gas resources. RIL and BP plan to submit development plans for the next two projects for Government approval before end of 2017.

Development of the three projects, with total investment of Rs 40000 crore (USD 6 billion), is expected to bring a total 30-35 million cubic meters of gas a day new domestic production onstream, phased over 2020-2022.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 19:22 IST