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BW Businessworld

BP Confident Of Raising Output In KG Block

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BP Plc's India unit is confident of raising output from Reliance Industries' KG D6 block off the Andhra Pradesh coast, its head Sashi Mukundan said on Tuesday, but added that it could take two years.

Mukundan told Reuters this year that output from the block in the Krishna Godavari basin, India's biggest gas producer, had slipped on technical problems to well below its target.

In July, the cabinet had approved Reliance's plan to sell 30 per cent stake in 21 oil and gas blocks, instead of the 23 originally planned, to BP, making it one of the largest investments in India's oil and gas sector.


(Reuters)