Comments
Reliance Industries Ltd (RIL) and BP on Tuesday announced the sanction for the MJ project (also known as D55) in Block KG D6 on the east coast.
MJ is the third of three new projects in the Block KG D6 integrated development plan and its approval follows sanctions for the development of an ‘R-Series’ deep-water gas field in June 2017 and for the satellites cluster in April 2018, RIL said in media statement.
₹35,000-cr investment
Together, the three projects are expected to develop about 3 trillion cubic feet of discovered gas resources with a total investment of ₹35,000 crore. These projects, when fully developed, will bring about 1 billion cubic feet a day of new domestic gas onstream, phased over 2020-22, the statement added.
Mukesh Ambani, CMD of RIL, said bringing the three discoveries to production by leveraging the existing infrastructure has been the primary objective of the RIL-BP joint venture. The gas will satiate the increasing demand for clean fuel in the country, save foreign exchange and reduce dependency on imported gas, he added.
Bob Dudley, BP Group CEO, said: “We are building an important upstream business in India, helping to supply the country’s growing gas market. Working closely with Reliance, we are efficiently developing discovered resources, with focussed exploration to give options for the future.”
MJ is a gas condensate field and is the third field under development as part of the KG D6 integrated development project.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.