Reliance-BP Deal Gets OK from Indian Govt
Reliance Industries Limited received approval from the Government of India to assign a 30% interest in 21 oil and gas producing sharing contracts to BP.
Under the agreement, BP will receive a percentage in 21 blocks that Reliance operates in India, including the producing KG D6 block. The original deal called for BP to acquire a stake in 23 blocks, but the government approval relates to only 21 blocks. Reliance said it would continue to seek approval for the remaining two blocks.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
Operates 27 Offshore Rigs
- BP Chairman Svanberg to Retire; Search Starts for Successor (Oct 19)
- BP Midstream Partners Seeks To Raise Up To $893MM In IPO (Oct 16)
- BP, Azerbaijan's SOCAR To Sign Caspian Sea Exploration Deal In 2017 (Oct 12)
Company: Reliance Industries more info
- OPEC's Output Curbs Squeeze World's Biggest Oil Refining Complex (Oct 16)
- India's Reliance Industries 2Q Profit Up 7%, Lags Estimates (Oct 13)
- India's Reliance Sells US Shale Asset for $126 Mln (Oct 06)