BP to buy stake in RIL gas block: report

Feb 07, 2011 |

Reuters

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BP Plc (BP.L) is in talks with Indian energy major Reliance Industries to buy a 30 to 45 per cent stake in the D6 hydrocarbon block in a basin off India's east coast, the Mint newspaper reported on Monday citing a person with knowledge of the development.

Reliance is pumping 52-53 million cubic metres of gas a day from the Krishna Godavari block, less than the 60 million cubic metres it produced last year, but the country's upstream regulator has said output could rise by April.

Officials at Reliance and BP could not immediately be reached for a comment.

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