RIL, BP to go ahead with third phase of KG-D6 block

The Hindu Business Line - - FRONT PAGE -

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.

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