Panna-Tapti deal

British energy firm BG Group, Oil and Natural Gas Corporation (ONGC) and Reliance Industries on Monday announced that a $131 million contract for increasing production from Panna and Tapti fields in Mumbai offshore, had been awarded to Clough Projects of Australia.

"Gross incremental recovery of 18 million barrels of oil and 74 billion cubic feet of gas is expected from Panna with this development," BG India said in a press release in New Delhi.