RIL-BP Natural Gas

Billionaire Reliance Industries Ltd and UK supermajor BP are nearing start of production from their giant MJ deep-water project in the KG-D6 block, which will significantly boost gas output from the prized east coast asset, a top official said. The MJ field will come on stream this quarter, said Sashi Mukundan, Regional President and Head of Country, India, BP Group, at India Energy Week here. Reliance and BP are spending about USD 5 billion on further developing KG-D6 through three different projects, aimed at rejuvenating gas production from the offshore asset. While the first two developments -- R-cluster and Satellite Cluster -- have started gas production, MJ is now nearing completion. The two fields are currently producing around 20 million standard cubic meters per day of gas and MJ would help raise the output to 30 mmscmd, meeting up to 15 per cent of India's gas demand. "MJ, the third of three developments, is expected to come on stream this quarter. Together, R-Series, ..

The central government's decision to increase the domestic APM gas price will negate the benefit of increased APM gas allocation to CNG players, Jefferies said in a report

The new joint venture also looks to provide electric vehicle charging and other low carbon solutions over time

RIL-BP kept the $3.18 billion investment plan for D-34 or R-Series gas field in the same block, which was approved in August 2013