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British oil producer BP has completed the full reversal of all its previously booked impairments on the D6 block in the Krishna-Godavari basin (KG-D6), the company said in its annual report for 2017.It is confident of commencing production from the R-Series deepwater gas fields in KG-D6 by 2020."In 2017, BP recorded a $30-million impairment reversal and a $56-mn reversal of exploration write-offs due to increased confidence in the progress of projects in Block KG-D6. This fully reverses all previously booked impairments on the block," BP said.BP holds 30 per cent in Reliance Industries' (RIL's) KG-D6 block. In 2014, the company stated, it recorded an $810-million charge, comprising a $415 mn impairment charge and $395 mn exploration write-off, to write down the value ascribed as part of the acquisition of upstream interests from RIL in 2011. The impairment charge rose as a result of uncertainty in the long-term gas price outlook back then, after introduction of a new formula for ...