BG India Consortium Sign PSC for Mumbai Basin Block

BG India, a part of BG Group, along with its Australian partner BHP Billiton signed a production sharing contract (PSC) with the government of India for a deep-water block MB-DWN-2010/1 in the Mumbai basin on the west coast of India, offered under the NELP IX bidding round, Times of India reported. 

BG India with 50% participating interest is the operator of the block and BHP Billiton holds the remaining 50% interest in this agreement. 

The block covers an area of 7,963 square kilometres in water depths varying between 2,900 to 3,200 metres. This block represents BG India's first deep water operated exploration license on the west coast of India, the newspaper report said. 

BG India looks forward to begin work shortly on the block and will actively engage with the relevant governmental bodies to secure the clearances required to carry out this work. BG India plans to undertake preparatory work and seismic surveys in order to capitalise on the weather window available post-monsoon 2012, said a company statement.