BP, RIL Plan to Invest $8-10 bn to Further Develop India Gas Field

BP and Reliance Industries are planning to invest $8-10 billion by 2016-17 for further development of KG-D6 gas field offshore India, Press Trust of India (PTI) reported.

BP Chief Executive Bob Dudley and Reliance Industries Chairman Mukesh Ambani first met Indian Oil Minister M Veerappa Moily and then followed it up with a meeting with Finance Minister P Chidambaram.

While Moily said issues surrounding KG-D6 were discussed in the meeting that lasted more than one hour, Dudley said BP was "committed to working with the Government of India in their quest for energy security", reported PTI.

"I think we are working very hard to develop further gas reserves in India," Dudley said after meeting Chidambaram.

In 2011, the British energy firm invested $7.2 billion in India.

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