facebook
twitter
rss
account
search
search
 

BP ready to work offshore India

Feb. 20, 2013 at 6:28 AM   |   Comments

NEW DELHI, Feb. 20 (UPI) -- British energy company BP brings "expertise in deep water" to India through a joint natural gas deal with Reliance Industries Ltd., executive Bob Dudley said.

Dudley joined British Prime Minister David Cameron in what was billed as the largest British trade delegation to travel to India.

BP and RIL under the terms of the deal aim to coax 4 trillion cubic feet of natural gas from the KG D6 block off India's east coast.

"We will bring all our expertise in deep water to explore the prolific gas basins in India and BP looks forward to a rewarding and successful exploration program in the coming years," Dudley, BP chief executive officer, said in a statement.

BP stated the proposal is subject to regulatory and government approvals. Once sanctioned, the joint project with RIL would represent more than $5 billion in investments over the next five years.

KG D6 last year produced 2 trillion cubic feet of natural gas and 22 million barrels of oil. BP said more drilling was planned "in the coming months" to see if there are more resources under the offshore field.

BP this week said it was ready to defend itself in a U.S. court over the deep-water oil spill in the Gulf of Mexico in 2010.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Market Basket workers hail victory with announced sale to Arthur T.
2
Iran vetting oil customers
3
New gear to be supplied to deploying Australian troops
4
Brazil assessing capabilities of Russian air defense system
5
U.S. Navy receives first low-rate production RAM Bock 2 missile
Trending News
Video
x
Feedback