Reliance, BP, Niko venture give up India’s D4 block

摘要

Calgary—Reliance Industries, BP and Niko Resources have relinquished their interest in the Block D4 exploration acreage offshore southern India, Calgary-based Niko said May 22. Niko, on behalf of its partners, said in a statement the decision was based on the latest geological “assessment” of the block, as well as the current commercial environment in India. Niko holds a 15% interest in the block, BP 30% and operator Reliance 55%. The acreage is situated north of the prolific Block D6, which is estimated to hold 100 trillion cubic feet of resources. The Reliance-BP-Niko joint venture also owns and operates D6.