Reliance, BP sanction deepwater gas project off India
BP and Reliance Industries Ltd. have sanctioned development of the R-Series deepwater gas fields in block KGD6 offshore eastern India.
The R-Series (D34) project is a dry gas development in water depths of more than 2,000 m (6,562 ft), about 70 km (43 mi) offshore. The fields will be developed as a subsea tieback to the existing control and riser platform off block KGD6. The project is expected to produce up to 12 MMcm/d (425 MMcf/d), coming onstream in 2020.
This is the first of three planned projects in block KGD6 that are expected to be developed in an integrated manner, producing from about 3 tcf of discovered gas resources.
RIL and BP plan to submit development plans for the next two projects for government approval before the end of the year.
Development of the three projects, with total investment of about INR 40,000 crore ($6 billion), is expected to bring a total about 30-35 MMcm/d (1 bcf/d) of new domestic gas production onstream, phased over 2020-2022.
India consumes more than 5 bcf/d of natural gas and aspires to double gas consumption by 2022. Gas production from the integrated development is expected to help reduce India’s import dependence and amount to more than 10% of the country’s projected gas demand in 2022.