Reliance-BP complete Rs 25,000 crore investment to revive KG-D6 block


Reliance-BP complete Rs 25,000 crore investment to revive KG-D6 block

Reliance Industries (RIL) and its joint venture partner BP Plc have completed an investment of around Rs 25,000 crore at its three offshore hydrocarbon assets in Krishna Godavari (KG) D6, over the last two years. The JV will invest another Rs 10,000 crore in the blocks which are slated to commence production between mid-next year and 2022. The companies expect a production of one billion cubic feet (bcf) of natural gas a day from its assets when all the three fields–R Series, Satellite & MJ–start pumping gas full throttle.

“Commercial production from R-Series will begin from mid-next year, while Satellite and MJ fields will start selling gas in 2021 and 2022, respectively,” sources said. They confirmed that about Rs 25,000 crore of the overall investment of Rs 35,000 crore committed by RIL and BP has been deployed to erect the deep-water infrastructure. Mukesh Ambani, chairman, RIL said at the last annual general meeting (AGM), “projects to develop these gas-fields are amongst the most complex being executed anywhere in the world.” Read More

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