(FE)
Reliance Industries (RIL) and BP have sanctioned the third phase of the integrated field development plan for the MJ project in the KG D6 Block of the Krishna Godavari basin on the east coast of India. The MJ Project, a deep-water high-temperature-high-pressure project, follows the sanction of the R-Series deep water gas field in June 2017, and the development of the Satellite Cluster in April 2018.
The RIL and BP combine will invest around `35,000 crore to develop about 3 trillion cubic feet (tcf) of new discovered gas resources after they suffered decline in gas output from the D1 and D3 fields over the last decade. The three new projects are estimated to together produce 1 billion cubic feet (bcf) of additional gas per day phased over 2020-22.Mukesh Ambani, chairman and managing Director of RIL, said, “The gas will satiate the increasing demand for clean fuel in the country, save foreign exchange and reduce dependency on imported gas.”
