Reliance-BP consortium invites bidders for gas from KG D6 basin1 min read . Updated: 30 Dec 2020, 11:44 AM IST
- The Reliance-BP consortium is developing and producing from deep water gas fields under a production sharing agreement with the Indian government.
Reliance Industries Ltd and UK's BP Plc today invited companies to bid for gas produced from the KG D6 basin. They expect to sell the gas from February.
"The gas produced for KG D6 will be available for sale at the delivery point at Gadimoga near Kakinada, Andhra Pradesh tentatively from 01 February 2021," the companies said in a notice in a newspaper.
CRISIL Risk and Infrastructure Solutions Ltd, a unit of S&P Global Inc, will conduct the bidding process through an online platform, the notice said.
The Reliance-BP consortium is developing and producing from deep water gas fields under a production sharing agreement with the Indian government.
RIL shares were up 0.5% in noon trade today.
Earlier this month, Reliance Industries and its partner BP plc of the UK had announced the commencement of natural gas production from Asia's deepest project, putting the second wave of discoveries in the KG-D6 block onstream.
The production from ultra-deepwater R-Cluster, the first of the three deepsea projects Reliance-BP are developing in the eastern offshore block, started production, the two firms said in a statement.
Reliance and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet about 15% of India's gas demand by 2023.
"These projects will utilise the existing hub infrastructure in KG-D6 block," it said.
Reliance is the operator of KG D6 with a 66.67% participating interest and BP holds a 33.33% stake.
R-Cluster is the first of the three projects to come onstream. The field is located about 60 kilometres from the existing KG-D6 Control and Riser Platform (CRP) off the Kakinada coast and comprises a subsea production system tied back to CRP via a subsea pipeline.
Located at a water depth of greater than 2,000 metres, it is the deepest offshore gas field in Asia. The field is expected to reach plateau gas production of about 12.9 million standard cubic metres per day (mmscmd) in 2021.