BP, Reliance Plan $5B Investment In India Gas Field

Law360, New York (February 19, 2013, 6:32 PM EST) -- BP PLC and Reliance Industries Ltd. said Tuesday that they plan to invest more than $5 billion in a gas block off the east coast of India over the next three to five years.

The companies are planning to develop a series of blocks covering about 4 trillion cubic feet under their endeavor to enhance the KG D6 block in the Krishna-Godavari Basin, where Reliance discovered more than 14 trillion cubic feet of gas in 2002.

It would cost about $50 billion to import this volume...
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