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Reliance, BP to develop third gas project in India

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Reliance, BP to develop third gas project in India

A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad

BENGALURU (Reuters) - Reliance Industries Ltd and BP Plc said on Tuesday they would jointly develop their third project, a deep water gas field off the east coast of India.

The oil majors sanctioned development of two other projects in the last two years.

The three projects are expected to develop a total of about 3 trillion cubic feet (tcf) of discovered gas resources with a total investment of about 350 billion Indian rupees ($5.04 billion).


($1 = 69.3780 Indian rupees)


(Reporting by Chandini Monnappa in Bengaluru; Editing by Shailesh Kuber)