BP (LON:BP) and Reliance are expected to start commissioning of the MJ gas development in the KG D6 deepwater Block offshore eastern India later this year. The MJ field will have an annual average production capacity of 90 million barrels of oil equivalent per day (boed).
BP and Indiaโs Reliance Industries have started production from a second ultra-deepwater gas field in the Krishan Godavari (KG) basin off Indiaโs east coast.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in Indiaโs rapidly expanding gas and renewables markets.
Indiaโs state-backed Oil & Natural Gas Corporation (ONGC) is set to boost deep-water gas production from the Krishna Godavari (KG) basin to between 2.5 million and 3 million cubic meters per day (cm/d) by May this year.
Venezuelaโs dwindling oil exports were dealt another blow as one of Indiaโs top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
Saudi Aramcoโs proposed purchase of part of Indiaโs Reliance Industries Ltd. will allow it to regain its grip on the worldโs fastest-growing oil market where suppliers including the U.S. and Russia are making inroads.
Indian billionaire Mukesh Ambaniโs Reliance Industries Ltd.โs talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the dealโs structure, people with knowledge of the matter said.
Industry experts from Petrotechnics, McKinsey Energy Insights, Airswift and Reliance got together for a roundtable discussion to provide insight on the theme of digitalisation.
Reliance Industries Ltd. is preparing to restart work in four offshore oil and gas blocks, including one of Indiaโs biggest natural gas discoveries, as it seeks to revive development activity stalled for seven years by disputes with the government, according to people with knowledge of the plan.
One of the worldโs leading manufacturers of high performance filtration and separation technology has secured spares orders worth $5million for Asiaโs largest gasification projects.