Power Update

Reliance, BP to invest ` 40,000 Cr in KG basin

Reliance Industries and BP have announced that they will invest Rs. 40,000 crore ($6 billion) to produce 30-35 million cubic metres a day of gas from new fields in the Krishna-Godavari Basin.

RIL and BP 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 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 fields will be developed as a subsea tieback to the existing control and riser platform off Block KGD6. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources.

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