Reliance, BP to develop deepest gas discovery in KG-D6 block by 2022

These projects together, when fully developed, will bring about 1 billion cubic feet a day of new domestic gas onstream.

Update: 2019-06-12 08:17 GMT
The market valuation of Reliance Industries Ltd (RIL) slipped below the Rs 5 lakh crore mark.

New Delhi: Reliance Industries and its partner BP plc of UK on Tuesday announced sanction for development of their deepest gas discovery in the eastern offshore KG-D6 block.

MJ, or D55, development is the third project that the partners have taken up to revive flagging natural gas production from KG-D6 block.

"Together the three projects are expected to develop a total of about 3 trillion cubic feet (tcf) of discovered gas resources with a total investment of circa Rs 35,000 crore (USD 5 billion)," the companies said in a statement.

These projects together, when fully developed, will bring about 1 billion cubic feet a day of new domestic gas onstream, phased over 2020-2022, they added.

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