RIL, BP sanction deepwater gas project off eastern India
BP and Reliance Industries Ltd. have sanctioned development of the Satellite cluster deepwater gas fields in block KG D6.
NEW DELHI, India– BP and Reliance Industries Ltd. (RIL) have sanctioned development of the Satellite cluster deepwater gas fields in block KG D6.
The Satellite cluster is a dry gas development in ~1,700 m (5,577 ft) water depth, about 15 km (9.3 mi) east and southeast of the producing D1D3 fields in KG D6.
The three projects will develop a total of about 3 tcf of discovered gas resources with a total investment of c. INR 40,000 crore ($6 billion). They are expected to bring a total c. 30-35 MMcm/d (1 bcf/d) of new domestic gas production onstream, phased over 2020-2022.
Mukesh Ambani, chairman and managing director of RIL, said: “In consonance with our announcements last year to raise domestic gas production, we are delighted to announce the on-schedule progress of the Satellite cluster in the east coast of India. This development supports the country’s imminent need of increasing domestic gas supply and is a firm step towards making India a gas-based economy.”
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.
RIL is the operator ofblock KG D6 with 60% interest, along with BP (30%) and NIKO (10%).