BP & Reliance to invest $ 6 bn to develop deepwater gas fields in KG basin

Reliance Industries Limited (RIL) and BP will invest Rs 40,000 crore ($ 6 billion) to develop already-discovered deepwater gas fields in the KG basin, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout India’s energy sector.

RIL and BP will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The R-series (D34) project is a dry gas development in water-depths of more than 2,000 metres, approximately 70 kilometres offshore. The R-series