BP-RIL Plan to Quadruple Gas Production in India by 2020

BP and its partner in India, Reliance Industries (RIL) will invest $5-10 billion to quadruple natural gas production by 2020, reports Press Trust of India.

"An opportunity awaits the BP/RIL joint venture to quadruple production by 2020 as we rework the fields and get into the next phase of development of already discovered resources," BP India head Sashi Mukundan said at the 12th Petro India conference in Delhi on Wednesday.

The duo is currently producing about 11.8 million standard cubic metres per day of gas from the KG-D6 block.

RIL-BP, he said, are focused on unlocking the next major hub for development in the east coast of India, reports Press Trust.

"Our Joint Venture alone could reveal a prize of over $100-150 billion for India by avoiding costly imports," Mukundan said.

He further said that the country needs a clearer pricing policy.

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