BP, Reliance Partner to Develop Deepwater Gas Fields in India

By Razak Musah Baba Features Dow Jones Newswires

Oil explorer BP PLC (BP.LN) and Reliance Industries Ltd. (RIL) have partnered to develop deepwater gas fields in India.

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The companies said Thursday they have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout India's energy sector.

Under the agreement, the two companies will jointly explore options to develop differentiated fuels, mobility and advanced low carbon energy businesses in India, as India transitions to a low-carbon world. BP and Reliance said they will award contracts to progress development of the R-Series, dry gas development, deep water gas fields in Block KGD6 off the east coast of India.

The project is expected to produce up to 12 million cubic meters (425 million cubic feet) of gas a day, coming on stream in 2020.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

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June 15, 2017 09:06 ET (13:06 GMT)