BP Cuts US$7B Indian Deal

摘要

Reliance Industries Limited (RID announced Aug. 30 that BP completed their acquisition of 30 percent of 21 oil and gas production sharing contracts (PSCs) in India, including the 1.7-billion-cubic-feet (48 million cubic meter) per day producing KG-D6 block. The alliance aims to operate across the gas value chain in India, from exploration and production to distribution and marketing, marking one of the largest foreign direct investments in the country.The two companies also will form a 50:50 joint venture for the sourcing and marketing of gas, which will accelerate the creation of infrastructure for receiving, transporting and marketing LNG. BP is looking at investing in India's existing LNG-related infrastructure and constructing additional receiving terminals with RIL.