Reliance KG Basin

The firm was paid USD 36 million to settle an arbitration it had initiated against Reliance and BP trying to force it out of the block over default in payment

RIL and partner BP are seeking bids from potential users for the 5 million standard cubic metres per day of gas they plan to produce from the R-Cluster Field in KG-D6 from mid-2020

This discovered price would, however, be capped by a ceiling set by the government every six months for gas produced from difficult fields

Reliance Industries and its partner BP plc of UK have spent over Rs 7,000 crore in prolonging output from the flagging D1 and D3 gas fields in the Bay of Bengal as they prepare new fields that will start production in mid-2020, sources in the consortium said. In perhaps one of its kind intervention in a deepsea field, RIL-BP has, through the use of a combination of complex techniques, kept the wells flowing at Dhirubhai-1 and 3 (D1 & D3) gas fields in the Krishna Godavari basin block KG-D6, they said. RIL-BP want to keep the system live till the R-Series and Satellite fields in KG-D6 block are ready to produce. The due plan to use existing facilities to produce 30-35 million standard cubic metres per day of peak output from R-Series, Satellite, and MJ fields. The D1 and D3 fields, the first of the one-and-a-half dozen gas discoveries in KG-D6 that were brought to production in April 2009, will cease to produce by end-2019. This shutdown will coincide with upgradation, ...

It remains to be seen if Reliance-BP partnership will benefit from new pricing policy