Reliance, BP to invest Rs40,000 crore in KG basin

Mumbai: Reliance Industries Ltd (RIL) and BP Plc. will invest a combined Rs40,000 crore in the D6 gas field in the Krishna-Godavari (KG) basin, off India’s eastern coast, to boost production over the next 3-5 years, the two companies said on Thursday.

The investment in the deep water gas field is expected to boost production by as much as five-fold, the companies said.

The announcement was made by RIL chairman and managing director Mukesh Ambani and BP’s group chief executive officer Bob Dudley at a press conference in New Delhi, after they met Prime Minister Narendra Modi and oil minister Dharmendra Pradhan earlier in the day


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