Offshore Exploration RIL and BP to Collaborate on Offshore Exploration

| Editor: Dominik Stephan

Oil and gas giant BP will invest $9 billion to acquire a 30-percent-share in Reliance Industry (RIL) offshore exploration blocks.

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(Picture: BP)
(Picture: BP)

New Delhi/India – This investment will help RIL to leverage BP’s experience and expertise to increase the gas output from its D-6 block by more than double to 120 million cubic metres per day and boost the development of India’s biggest gas field. BP India’s Head Shashi K Mukundan stated that BP would provide RIL the technology to boost the pressure of gas from the field to increase gas production. RIL, in turn, is an adept at execution strategies and subsurface development technologies, which will further help boost productivity in the region.