NEW DELHI/MUMBAI: BP Plc and Reliance Industries Ltd. will invest as much as $6 billion (Dh22 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 Thursday.
The companies will first award contracts for work in the R-series ultra-deep water gasfields in the block, lying 70 kilometres 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.
— Bloomberg
