RIL-BP Plc invites companies to bid for KG D6 basin gas, to be available for sale from Feb 01

Both RIL and BP had announced the start of production from the R Cluster, an ultra-deep-water gas field in block KG D6.

Dec 31, 2020 09:12 IST India Infoline News Service

RIL, Reliance Industries
The Mukesh Ambani-backed Reliance Industries (RIL) and UK-based BP Plc have now invited companies to bid for their gas from the KG D6 basin. The duo plans to carry the sale from February 01, 2021.

In a newspaper notice, the companies who jointly manage KG-D6 block stated that the gas produced for KG D6 will be available for sale at the delivery point at Gadimoga near Kakinada, Andhra Pradesh tentatively from 01 February 2021.

Earlier on December 18, both RIL and BP had announced the start of production from the R Cluster, an ultra-deep-water gas field in block KG D6 off the east coast of India.

As per the deal, RIL and bp are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet ~15% of India’s gas demand by 2023.

These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and BP holds a 33.33% participating interest.

At around 2.48 pm, RIL was trading at Rs1989.05 per piece down by Rs6.45 or 0.32% on Sensex. The stock has touched an intraday high and low of Rs2011 per piece and Rs1984 per piece respectively. 

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