BP said today it had found a “significant” condensate discovery off the eastern coast of India.
In 2011, BP took a 30% stake in 21 of Reliance Industries’ oil and gas production projects in India, in a deal that included the formation of joint venture to source and market gas in India.
Dr Mike Daly, executive vice president exploration at BP, said: “The discovery demonstrates the effective technical co-operation between the partners, allowing us to make a new and significant discovery within KG D6. It follows an 18 month drilling time-out and detailed geoscience work that has re-focused our India exploration program and delivered this early success.”
The partners will begin an appraisal program in the next few months to evaluate the options for developing this discovery.
Reliance is the operator of KG D6 with 60% equity. BP has a 30% share and NIKO the remaining 10%.