(ET)
Reliance Industries and BP Plc have finalised plans to develop all the gas fields in the KG-D6 Block, reflecting the company’s renewed enthusiasm about the policy and pricing regime and focus on the sector after completing heavy capital expenditure in its telecoms and petrochemicals businesses. The partners have submitted the formal Field Development Plan for MJ Field in the gasrich block Cto the oil ministry on Wednesday, sources familiar with the development said.
Reliance and BP had submitted a development for the “satellite cluster” of fields in the block earlier this month, acting swiftly after Reliance Chairman and Managing Director Mukesh Ambani and BP Plc head Bob Dudley announce their intention to invest Rs 40,000 crore in the block.
