BP and India’s Reliance Industries have agreed to sanction the second phase of the integrated development of the ‘Satellite cluster’ project in Block KG D6, off India.
The ‘Satellite cluster’ is the second of three projects in the Block KG D6 integrated development. The first of the projects, development of the ‘R-Series’ deep-water gas fields, was sanctioned in June 2017.
Together the three projects will develop a total of about 3 trillion cubic feet of discovered gas resources with a total investment of US$6 billion. They are expected to bring 1 billion cubic feet of gas a day phased over 2020-2022.
This latest investment is a further demonstration of BP’s commitment to India. Through our partnership, Reliance and BP are able to develop these discovered gas resources efficiently and economically, working closely with the Government of India. These new developments will produce much needed energy for India’s thriving economy," said Bob Dudley, group chief executive.
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.”
The Satellites cluster is a dry gas development and comprises four discoveries with five well subsea development in ~1700 metres water depth, up to ~15 kilometres east and southeast of the producing D1D3 fields in KG D6.