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.
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