Reliance, BP to invest $5 billion to boost D6 gas field output

REUTERS - Reliance Industries said the company and its partner BP Plc plan to jointly invest more than $5 billion over the next three to five years to boost output at a key natural gas field off India's east coast.

The D6 block in Krishna Godavari basin is jointly operated by the two energy companies and was expected to contribute up to a quarter of the gas supply for Asia's third-largest economy, but output from the block has been declining.

The two companies are planning to invest in a series of projects to develop around 4 trillion cubic feet of discovered natural gas resources from the block, Reliance said in a statement on Tuesday.

 

(Reporting By Aradhana Aravindan; Editing by Tony Munroe)