Furthering their partnership, Reliance Industries Limited (RIL) and Bharat Petroleum have announced to develop new gas productions in the already discovered deepwater gas fields in the east coast of India.
The partnership would develop three projects with a total investment of Rs 40,000 crore that expects to produce up to 12 million cubic metres of gas per day by 2020, RIL said in a statement.
It added, “Gas produced over the life of these three new projects could generate up to USD 20 billion in import substitution and employment of up to 20,000 skilled labour during the construction period over the next 5 years.”
The partnership would also explore options to develop differentiated fuels, mobility and advanced low carbon energy businesses in India, as India transitions to a low carbon world.
Furthermore, it seeks strategic cooperation on new opportunities across India’s energy sector.
It can be mentioned here that since its alliance in 2011, the two companies have invested over Rs 10,000 crore in deepwater exploration and production till May 2017.