Reliance and BP to invest Rs. 40,000 crore more in offshore gas field

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Mukesh Ambani ,Chairman and Managing Director, Reliance Industries Ltd, and Robert Dudley , BP Group Chief Executive, at the signing of RIL-BP relationship framework and transactional agreements.

New Delhi: Reliance Industries Ltd and BP will invest a further $6 billion (Rs. 40,000 crore) in their jointly owned KG D6 gas field off India’s eastern coast, the heads of the two companies said on June 15.
BP Chief Executive Bob Dudley, appearing alongside Reliance Chairman Mukesh Ambani at a news event in New Delhi, told reporters the additional investment signalled its confidence in India.
Reliance holds a 60 percent stake in a gas block in the Krishna Godavari (KG) basin, BP owns 30 percent while Calgary-based Niko Resources Ltd holds the rest.

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