Production from India's KG D6 block's third deepwater field is started by RIL and BP

3 Jul 2023 , 01:10 AM

Following testing and commissioning procedures, Reliance Industries Limited (RIL) and BP Plc started producing gas and condensate from the MJ field today, the firms said in a regulatory statement.

With a participation interest of 66.67% in RIL and a participating interest of 33.33% in bp, RIL is the owner and operator of the KG D6 block.

The RIL-BP consortium’s three significant new deepwater developments, including the MJ field, have all been put into operation in block KG D6 off the coast of India.

After the R-Cluster field’s start-up in December 2020 and the Satellite Cluster field’s start-up in April 2021, gas and condensate production from the MJ field will begin. All three developments make use of the block’s current hub infrastructure.

When the MJ field achieves its peak production, the three fields should collectively generate 30 million standard cubic meters of gas per day (1 billion cubic feet per day). This is anticipated to supply 15% of India’s consumption and make up around a third of the country’s present domestic gas production.

According to BP Chief Executive Bernard Looney, the firms are working together to fulfill India’s expanding energy needs. ‘By safely bringing these new developments onstream, RIL and BP are making an important contribution to meeting India’s demand for secure supplies of gas,’ he added.

A new Floating Production, Storage and Offloading (FPSO) vessel, the ‘Ruby,’ is part of the development. It will be used to process and isolate the condensate, gas, water, and contaminants before bringing the gas onshore for sale. Before being offloaded to shuttle tankers for delivery to Indian refineries, condensate is held on the FPSO.

RIL’s stock increased 0.84% to close at Rs 2550.70 on Friday on the BSE. The benchmark Sensex closed higher by 1.26%.

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