Our strategic alliance with RIL in India has provided us with a 30% share in the east coast Krishna–Godavari, Cauvery and Mahanadi basins and also includes a 50/50 gas marketing joint venture. This positions BP as the only international energy company present across the full gas value chain in one of the fastest growing markets in the world.
The partnership combines BP’s world-class deep water exploration and development capabilities with RIL’s project management and operations expertise. RIL will continue to be the operator under the production sharing contracts.
Our technical assessments continue to support strong resource potential to BP. In addition to the already producing fields – D1, D3 and D26, there are several other discoveries within KG D6 block, where we will work closely with our partner RIL to undertake reservoir management activities.
In 2013 BP and RIL announced two significant gas and condensate discoveries in the Krishna-Godavari (KG) basin and the Cauvery basin – an exploration milestone in the partnership.
India Gas Solutions Pvt. Ltd., a 50/50 joint venture company, will focus on global sourcing and marketing of natural gas in India. The joint venture company also aims to develop infrastructure to accelerate transportation and marketing of natural gas within the country.